Legal Question in Credit and Debt Law in North Carolina

Yes, you can lose personal property but the creditor must first get a judgment against you. It also depends on what you own and whether you can exempt your property as well as your bank accounts.

If you are having problems, forget about paying CACH. Pay yourself and put the money somewhere safe. I don't know what you owe, but when you get about 50% of the balance on the debt (its going to grow because of interest), then you can try to settle the debt. You can settle even after the entry of judgment. Most creditors will accept between 50% and 80% of the debt in settlement and some will even let you do it in 1-12 payments, but it depends on the creditor and law firm involved. The more of the debt that you can pay in a lump sum, the lower they will go.

If you want to discuss the specifics of your situation in confidence, I give free email consults. I can also resolve debts for a reasonable fee if you have the funds. Please contact me at [email protected] if interested.