Lien on home for debt?

In VA not only can a lien be placed on your home but your wages can be garnished.

Right, I understand they can garnish my wages but they will have to serve me first right? The can't just garnish my wages...

Has anyone had the experience of a lien on your home? How long did it take them to put the lien on? Did you have to go to court or do they just put the lien on?

In most states, a judgment acts as an automatic lien against any real property you own. Albeit, the creditor usually files a record of the judgment with the county recorder of deeds in order to make it "official."

That being the case they would have to file suit, serve you, and get a judgment entered first before they could garnish your wages or register that lien.

The time frame for creditors to file suit varies, depending on the balance, overall collectibility and your attitude. For example a person who owes $10K on a single card, makes $60K/year, and says "F* You" and hangs up anytime they call, might get sued a lot quicker than someone who is unemployed and only owes $1000.

Most likely lawsuits are at least a year away. They will go through collections and get charged off before they entertain the idea of suing you. By then, maybe you (and them) will be in a position to settle. Although doing that will drag your credit through the wringer too.

The odds of having your home iat risk is very slim. Are you going to try and settle the cc's on your own or use a debt settlement co.?

I am in Maryland and am using freestar financial to settle my cc's. Doing a great job for me.

Good luck whatever you do.
Bill

Debtcruncher, thanks. I am working but I lost my husband over year ago to cancer. Since that time I have been trying to use savings to pay bills, that ran out then I started using my cards (robbing Peter to pay Paul). Now I'm backed against a wall, no more room on any cards and too many to pay without another income.

I tried getting another job but no dice. I do not want to go the BK route, I already tried talking to CCCS about a dmp and the monthly payments would have been like $2,400.00, hell that's more than I would be paying if I was just paying the minimum on the cards.

Guest, I am going to do it myself. There is no way I want to get scammed by anyone. I need all of my money! I have heard way too many horror stories. Even the lady at CCCS told me to do it myself!

that is great that you wish to do this yourself! But dont be misunderstood there are some great settlement companies out there. I used one myself if you want a recommendation! But anyhow, before i got with them i did try it myself and i had one card that i ended up having trouble with. it was for 1,300.00 at the time i had no job no income and I got a court summons. I explained to the judge what i was trying to do and they wouldnt settle with me. They did not appear in court and i could have had it tossed out, but i felt honesty was the best policy. so he put a lein on my home to pay the debt. He explained to me there was no time limit, no monthly payment, It was that when i had the money to pay them, Pay them. All it ment was that I could not sell my home till this bill was paid. Which I had no intentions of ever selling my home so this did not scare me much. 2 years later after recieving a decent income tax refund i paid them off.

but they cannot garnish your wages or do any of this unless you go to court and the judge issues whatever it may be, if its garnishment, payments, or lein. but it must go to court they cant do it till then. Hope my story helps!

Thanks ilovemythings for the info. So lets say they get a judgment to put the lien on my home...I have no intention of moving or losing my home. At that point can they garnish either my bank accounts and my wages? It's sounding like it.

im not sure, I know in my particular situation they could not because the judge did not rule that. I am not sure if later they could have pursued that or not. Also something to be considered is that in some states i believe that they cannot garnish wages at all so this is something to be considered also. But remember at the time i had no income, and so there for they couldnt garnish wages because i didnt have any! so im not sure! Im sorry that i cannot be of more help to you on that question!

I am going through the debt settlement process and have been sued a couple of times, once after nine months, and once after one year of non-payment. The first time, the summons came with an alternative offer that was really good, that I was able to take. The other time, I called the creditor, hooked them up with my settlement company, and a settlement was reached. Each time, the arrangements were made before the court date, and the cases dismissed. In my experience, the lawsuits have just been a way to force a settlement. Sometimes they offer payment plans that are stretched out over a longer period of time. Even if you GO to court, the judge will most likely entertain the options for payment plans before they put a lien on your house or garnish wages. I live in a really hard-hit area where there are lots of people out of work, on welfare, public aid, etc., so the judges tend to do what's best for the people and not the collectors. I think it's getting to be that way more and more.

No problem lovemythings, grateful for any advice and experiences.

SusieQ, I sure hope that will be situation for me! I hope and pray. It's too late for me to turn back now....

i did not know that it was not paid. a collecting agency has put a judgement lien on my house.how do i settle this lean

You have to pay off the judgment, and they will release the lien.

Have you tried balance transfer credit card for consolidating your debts? There are low or zero rate cards. Give it a try but read the fine prints before opting it.

Debt settlement may be an answer to your woes. If you decide to do it yourself then the following page may be helpful to you: -
How to settle your debts yourself and simplify your life

But if you decide to settle your debts through a debt settlement company then the following ranking chart may come handy: -
USA Best Debt Consolidation/Settlement Companies Ranking Chart

Check the points mentioned in the following page before selecting a debt settlement company: -
Best Debt Settlement Companies - How to choose the best out of the lot?

In my case, the judge told me that there was no time limit and if i never had the money to not worry about it if i had no intentions of moving. Now i dont know if that is a just my case issue or if its across the board, or if the cc company can come back after a certain amount of time and try again. I cant really say. But in my case i would never have had to pay it if i didnt want to ( I think if i wanted to take out a equitly line of credit though i would have had to pay it) But after about 2 years i paid it i didnt want it hanging over my head later. So even if you get the same treatment, as soon as you can you should pay it.

like i said though it may have been a my case only situation. the judge was pretty angered at them for not showing up or not working with me whatsoever, he felt it wasted his time.