Can Land Be Taken When Being Sued for Credit Card Debt?
Judgment Before a credit card company can take any of your property, the company must obtain a judgment from a state court judge. A judgment is a final resolution of a lawsuit. This means the lender must prove in a trial that you have defaulted on your credit card payments. The judgment will contain an order from the judge directing you to repay a certain amount to your credit card company. Obtaining a judgment typically takes at least six to 18 months. Satisfaction The credit card company can satisfy the judgment by taking your wages and your land. The lender can require you to show up at a court proceeding, after the trial, where you will have to answer various questions from the lender’s attorney regarding what property you own. You will have to disclose any land that you own. The lender uses this information to determine how best to satisfy the judgment. Garnishment One of the ways the credit card company can take your property is through a writ of garnishment. This is a post-judgm
