I got a call from a collection agency
May 13th, 2015 by Questions
I am a low-income senior (67) living on a CPP / OAS presently disabled from hip surgery. I got a call from a collection agency regarding an outstanding credit card debt from about 6 or 7 years ago. They threatened to place a lien on my home. I own the home with my brother. It is not his principal residence, nor has he anything to do with the outstanding debt. I still have a large mortgage and my equity would be 1/2 the home less mortgage and outstanding property tax. Can they put a lien on 1/2 the home? Or is this just a threat.
I’m also at the point; I can no longer stay in my home because my expenses have increased so much over the past few years. I have to put the house up for sale, but I know you can not sell if you have a lien imposed. I have very little money to offer as a settlement, what should I do? Is bankruptcy my only option?