Can my house be taken for credit card debt?

+1 vote
asked Sep 27 in Credit by Norveaio (230 points)
Can my house be taken for credit card debt?

If you owe credit card debt can your house be taken from you to pay back the credit card debt?

1 Answer

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answered Sep 27 by Gracy (27,040 points)
Your home or anything else you own can be taken by a creditor to pay back money owed on credit card debt.

However credit card debt is unsecured debt which means that the creditors can't immediately take your home or other belongings from you to pay back the debt unlike a mortgage where the bank could take your house because of non payment and foreclose on you.

With credit card debt the creditor and collection agency would have to take you to court, sue you in court and if they win the case against you then they could take your home if the judge decides that the creditor or collection agency can take your home for payment of the debt.

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