Legal Question in Credit and Debt Law in Michigan

Unable to pay old credit card debt. Can a lien be placed on my home?

I have a great deal of credit card debt that I am unable to pay due to the fact that I am now a single mother of three children and I do not receive child support payments . (Please don't suggest I contact the FOC as they are a worthless agency). I believe all of the debt has been ''charged off'' by the original creditors. Can I be still be sued for these amounts? Can a lien be placed on my home? Can the old debt be sold to another collection agency, and if so are there legal ramifications they can pursue? I would prefer not to file for bankruptcy, but would definitely consider it an option. Thanks in advance for your assistance.


Asked on 6/13/07, 2:38 pm

1 Answer from Attorneys
Renee Walsh LawRefs Nonprofit

Re: Unable to pay old credit card debt. Can a lien be placed on my home?

Yes, you can still be sued for the amounts because the original creditors assigned their rights in the original contract to the new creditors in the sale of the debt. There is a statute of limitations on contracts though, which can be found at MCL 600.5801 - 600.5869 and if this has passed, then that is a valid defense.

(Please do not rely on this communication which does not create an attorney-client relationship and which is intended merely as a discussion of legal principles and is not to be relied upon.)

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Answered on 6/23/07, 2:32 am


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