Unless your credit card is tied into your house by means of a home equity line of credit or the like, a credit card company can’t just put a lien on your home if you owe them money. If you fail to pay the debt you owe the credit card company, it can sue you for the amount that is due. If the company obtains a judgment against you, it can place a lien on interest in your home. They would have to wait for you to sell before they can do anything else. Most of the time, they will seek a wage garnishment instead, unless your state is one of the few that prohibits wage garnishment. Now as to them (Bank of America) accepting a payoff as negotiated by that debt reduction company, sorry to say, but the CC Co is under no legal obligation to accept or even deal with them. And before someone starts spouting your rights under the FDCPA, you must be aware that the CC Co and it's in house lawyers DO NOT come under the FDCPA guidelines. Only third party collection companies or attorneys hired by the CC Co would have to follow those rules. Perhaps that credit repair company should be replaced. Here is a link for you to research and make sure they (the credit repair company) are following the federal guidlines in representing you, if they are not doing so, you can sue them!!! http://www.access.gpo.gov/uscode/title15/chapter41_subchapterii-a_.html Hope this answer is of help to you LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice
by Sgt Big Red - an hour ago
the only way is if this was a home equity loan and you were given a credit card to use with it. Now most states have limits on how high that rate can go as it is tied to prime rate. Most cap out at 18% in HELOC's. Now just a regular credit card they will have to get a default judgment in court before they can place a lien on your home or garnish your wages
by golferwhoworks - an hour ago
I can't believe they are making up that lie about taking away your house. Out right lie. By any chance is your home also mortgaged through Bank of america? Could it be that you have a HELOC through that credit card?
by Judy - an hour ago
You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL: http://www.creditscoresecret.org I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!
by BURBY - an hour ago
You can try follow this link. And find what you need.
by Many G - an hour ago
It is possible if the Credit Card is actually a Home Equity Line of Credit(HELOC). In that case they can not only place a lien on your house but foreclose on it. However, since a HELOC is lower priority than your regular mortgage they generally won't attempt foreclosure because the first mortgage has to be settled first. However, if it is not tied to a HELOC then it still is possible for them to garnish your wages or place a lien. For this they must first file suit and get a judgment against you. Then depending on the state they could garnish your wages, attach your bank accounts, or place a lien on your house.
by OC1999 - an hour ago
Is your card a Home Equity Line of Credit - Credit card? If so, yes they can. Will they? It will cost them too much. Call someone at the bank and have a nice little talk. Honey always attracts bees. Be as sweet about your hardship as you can. Record those phone calls if it is not; cause those are threats and illegal.
by Jenni - an hour ago
not without due process( that is a court of law) they will threaten you with everything ,it's all bull. see if you can transfer the balance to another lower interest card. dump the debt reduction company they are not going to help you ,and they might hurt your credit more than a late payment will...question how did they double what you owe ?....11,000 for a cat , and 12 yrs old already,? he is 1 foot till he's compost anyway.wow, lots of cheap cats (free)out there,couldn't you have found a replacement.
by tholeeder - an hour ago
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