Legal Question in Credit and Debt Law in New Hampshire

property seizure for default on a loan

My husband co-signed for me on a signature loan for home improvement with a credit union. I filed chapter 7 and it was discharged last year. I kept my car loan and mortgage (I'm still paying on them, they were not reaffirmed).They sent him a Writ of Summons and states that they may attach his home to pay the debt. Its only $4,000.00 he owes. Can they do this or is this just a bluff tactic? He is considering filing bankruptcy. He has other bills he cannot pay. We don't have any equity in the home it was bought in 1995.


Asked on 7/17/99, 8:54 am

1 Answer from Attorneys
Stuart Williams

Re: property seizure for default on a loan

Yes, they probably can do that. However, if you make sure they realize that there's no equity in the home, especially, they probably will have sense enough to not even try; that would be a waste of their money (more money, up front, for the lawyers and the auctioneer). Also, the judge might not allow it at all.

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Answered on 8/01/99, 2:02 pm


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