credit card judgement in california
You want this cake
What will happan if a credit card company wins a judgement against my dad for an unpaid credit card bill?
My dad currently owes $35,000 to American Express, and they sent a letter to our house yesterday saying they’re sueing him. He was paying them for a while, but stopped paying about a year ago. I was wondering if he could go to jail for this? & also, if they could take our house. Our house is worth about $500,000, so can they take it for an unpaid credit card of just $35,000? & if they’re not going to do either of these, than what will they most likely do in the state of California? Also, is it a sure thing that my dad will lose?
Wow, tat, your opinion was not needed. Thanks.
If he owes the money, AE will get a judgement. Once they get it, at that amount of money, they will put a lein on your house and if or when your dad sells they will get their money first after the mortgage is paid. Better to speak with them and either make a cash settlement offer of half the amount or make a new payment agreement with them. The other alternative is bankruptcy which will get rid of all his debt and still be able to keep the house. You may want to tell your father to see a lawyer before it gets any further along i the collection process.