In Alabama, can a credit card company you owe take your house?

My parents owe about $13000 on a Discover card, but I%26#039;m not sure how old the debt is. Recently an officer from the sheriff%26#039;s office came by with a letter saying that Discover was suing them. A friend of theirs told them that Discover could take their house. Is this true? Also, how long is the statute of limitations for credit card debt in Alabama? Or, since the credit card was applied for and most of the charges were made in Georgia, would the statute of limitations for Georgia apply? Can they still settle? What other options do they have?

In Alabama, can a credit card company you owe take your house?

No, they cannot take your parents%26#039; house. If they are awarded a judgement, they can (and likely will) file a lien on the property. Since $13k is no longer a small claims matter, this%26#039;ll be heard in civil court. Your parents need to hire an attorney. Their attorney will provide them with options, and discuss statute of limitations in your state. My guess is they are within the statute of limitations.

Your parents need an attorney to represent them. I can%26#039;t stress that enough.

In Alabama, can a credit card company you owe take your house?

you need to get a hold of a primerica agent they can help with this old debt

In Alabama, can a credit card company you owe take your house?

(1) No, they can only obtain a judgement for the amout owed, but they could file a lien against the property after the court awards thema judgement.

(2) I do not know of any %26quot;statute of limitation%26quot; on a debt.

(3) Laws of the state of their curent residence will control.

(4) You can always settle a debt with a creditor.

(5) Pay the sum demanded or work out a settlement, or let it go to judgement (credit is trashed already) and pay later from sale or refinance of the property.

In Alabama, can a credit card company you owe take your house?

They can%26#039;t take their house, however, a judgment could be found against them and a lien put on the house. What this means is that when they sell the house, before they get a dime, all monies owed to Discover have to be paid.

Statue of limitations are normally 7 years, and really doesn%26#039;t have anything to do with the state; that%26#039;s how long it will stay active on the credit report.

They can contact Discover and offer to pay a (reasonably) lower amount, offer to make monthly payment which they should have been doing anyway, or work out some kind of arrangement.

They owe the money - they need to pay.

In Alabama, can a credit card company you owe take your house?

Normally the primary residence is creditor-protected. They also should think of debt-consolidation. For this please check out bebt consolidation options at http://mortgage.yeyeyup.com

In Alabama, can a credit card company you owe take your house?

You%26#039;ll want to hire a lawyer if the sheriff stopped by. That means they received a summons and if they don%26#039;t answer it and appear in court they loose by default. You don%26#039;t want that to happen, as it will result in a lien that will be around for a long time.