Can the credit card companies make me sell my property?

October 22nd, 2015 by Questions

I have credit card debt I can no longer repay. I have two rental properties with equity in them. Can the credit card company’s make me sell them to repay the debt?

Questions

One Response to “Can the credit card companies make me sell my property?”


October 22, 2015 at 6:16 am, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:

Should the credit card companies obtain a judgement for the outstanding amounts they can take judicial proceedings to collect on the debts.  Such procedures normally entail garnishment orders, writs of execution (seizing your assets) or filing the judgment against real property. If the judgments remain unsatisfied for a period of time the creditor can force the sale of the property. 

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