BILL'S ANSWER
It appears that if a creditor takes you to court and wins a judgement against you, in South Carolina, it is possible that a lien can be placed against your home. Please take a look at State Consumer Protection Laws and Exemptions to find out more about what laws apply in your state regarding collections. Generally speaking, it is not always in the best interest for a credit card company to place a lien against a home. The reason for this is that, if they are successful in placing a lien against the home, the credit card company will be the last one to get paid if the home is sold. This is a concern for a credit card company if the debtor has a mortgage, or possibly two, against their home. Furthermore, with declining home values over the last couple of years it is also possible that there may not be sufficient equity, if any, for the credit card company to be paid.
Please read an article I wrote discussing collections advice.
I hope this information helps you Find, Save, and Learn.
Best,
Bill
www.bills.com/blog
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