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Sample Judge Order With A Credit Card In Massachusetts
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While credit card companies technically have the ability to pursue your home for unpaid debt, it's rare. A debt collector must go to court and get a judgment before it can place a lien on your home. There are limits and exemptions to how much of your home's equity a debt collector can claim.
However, it is possible that if the credit card company sues you and wins a judgment, it could be able to place a lien on your home,” Koontz explains. “This could affect your property when you try to sell or refinance. In extreme cases, a lien may lead to foreclosure, but that's uncommon for smaller debts.
If the bank has a mortgage on your house and you are in default, it can repossess your house. Credit card debt is unsecured. Unless the bank sues and gets a judgement, it has no right to seize any of your property.
If a creditor puts a lien on your property, you may make an offer to settle the amount for less than you owe. As part of the negotiations, get the creditor to release the lien. Consider hiring a debt settlement lawyer to help you if you need help in the negotiations.
You can attempt to settle the debt and remove the Judgment, however a credit card company may be reluctant to remove the Judgment. Your best bet would be to reach out to the credit card company's attorney and discuss settling this matter.
Debts typically go into default after 180 days of missed payments. At this point, the company may take legal action to recover the owed amount.
In the United States, nobody can get a judgment against you without demonstrating to the court that you were served with the summons and complaint. A showing of deficient or fraudulent service is or should be sufficient to overturn a judgment.
In general, most debt will fall off your credit report after seven years, but some types of debt can stay for up to 10 years or even indefinitely.
EFileMA allows litigants to easily initiate court cases and eFile documents in participating courts anytime and from anywhere — 24 hours a day, seven days a week, 365 days a year.
The Debt Collection Fairness Act— S. 2713—would protect thousands of families across the state, including many in communities of color, by reducing the interest rate from 12% to 3% on judgments on consumer debt, which is often old debt that has been bought by debt collection companies for pennies on the dollar.
