Legal Question in Consumer Law in Georgia

Money owed to credit card companies

In the sate of Georgia - If a credit card company has processed arbitration and they will send the results of that arbitration to civil court � can the CC Company take my property?

I was told by a loan institution employee that this is not allowed because this is an �unsecured� loan. But the CC Company can put a lien on my property so that if I sale the property they will get the money owed to them.

Is this true?

Thanks


Asked on 2/18/07, 8:10 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Money owed to credit card companies

A court judgment can be a lien against anything you own - and can be used to seize your real estate, your bank account, your car or other things. It can also be used to garnishee your paycheck. It is irrelevant whether the loan is unsecured.

If you are in a situation where creditors are ready to sue you over credit cards, you should consult with a bankruptcy attorney to determine if bankruptcy is an option, or to determine if other credit counseling can help you. Do not wait until after they sue.

My office may be able to assist you further if you're in or near metro Atlanta.

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Answered on 2/18/07, 10:46 am


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