If a creditor gets a judgment they can file an abstract of judgment which is a lien on your property. You are allowed certain exemptions such as a homestead. There are assets other than your home which can be claimed exempt. For instance, an IRA account is exempt from creditors.

Answer Applies to: California
Replied: 9/1/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

If a credit card company obtains a judgment against you, they will attempt to collect on it. They can garnish wages, levy bank accounts and put a lien on your home. IRA accounts should be exempt. Why do you think you won't qualify for bankruptcy? Most people who need it do qualify. Please go see a knowledgeable local bankruptcy attorney for some advice.

Answer Applies to: California
Replied: 9/1/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

For a credit card company to get a lien against you (such as a lien on your house), they would have to first get a judgment against you. Without suing you and getting that judgment, all they have is a debt. If they get a judgment, then they can get a lien against most of your assets. But just because they have a lien doesnt mean that youve lost the asset. It just means that if they or some other lienholder foreclose on that asset theyre entitled to a cut of the profits from the foreclosure (foreclosure can be done on assets other than homes). However, every judgment debtor is entitled to exempt certain assists up to certain amounts. When an asset is exempted, creditors cant get at those assets no matter what. In California, the types of exemptions available to judgment debtors is (in some cases) very similar to the types of exemptions available to bankruptcy debtors.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

They can record a judgment and it automatically attaches to any real property you own, but they probably couldn't get your Ira.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

They can put a lien on your property. Before they do that, they will most likely garnish your wages or levy your bank accounts. If your bank account is with the same creditor, they will definitely levy your accounts if they already haven't.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

They can place a lien on property and they can request a levy against bank accounts, although your retirement accounts may be protected. You may qualify to file for bankruptcy based upon your debt.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

They can file a lien on the house, but the IRA account is likely exempt from a judgment execution by a judgment creditor. You don't state why you do not believe you could qualify for bankruptcy. There may be reasons why you may not want to file a particular bankruptcy type, but if you have debts and reside in the United States, there is not much else needed to qualify to file. Your best solution would be to see an attorney who gives free consultations to see if bankruptcy would benefit you, not whether you qualify.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.

Yes, they could put a lien on the home. No, the IRA accounts are exempt. Why don't you qualify for the bankruptcy? Some more information would be necessary here.

Answer Applies to: California
Replied: 8/31/2011

Disclaimer: The response above does not form an attorney-client relationship. This answer may or may not apply to you and should not be relied upon as legal advice. LawQA does not make any representation as to the expertise or qualifications of this attorney. This attorney may or may not be admitted to state bar of your state.