Charlotte, NC asked in Consumer Law and Collections for South Carolina

Q: Can a credit card company take your home if they file a judgment against you in the state of South Carolina

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1 Lawyer Answer
D. Nathan Davis
D. Nathan Davis
  • Consumer Law Lawyer
  • Licensed in South Carolina

A: The answer is a little dificult because the answer can change based upon the facts. The creditor must first sue and obtain a judgment against you. Once the judgment is obtained, it becomes a lien against the property for 10 years. Most of the time the creditor is not going to do any more than this. Since the judgment is a lien against the property, you cannot sell or mortgage the property unless you resolve the judgment by obtaining a release of the property or paying off the judgment.

The judgment will be junior to all liens filed prior to the date of the judgment. If the creditor wants to sell the property, the prior liens must be paid before the judgment creditor will receive anything. The judgment creditor's lien is also behind any exemption that attached to the property and the exemption gets paid before the judgment receives anything.

If you live in the property and call it your home, you can exempt $59,100.00 and even if you do not live in the property you can possibly claim an exemption of up to $6,100.00.

As you can see, the answer really depends on the equity in the property and other factors. Credit card judgments seldom result in the sale of a home.

You really need to meet with an attorney to get advice regarding your home. The facts of your situation will determine a lot of the answer.

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