Credit card debt and joint ownership of house
My mother, brother and I own a house, my mother has about $45,000 in credit card debt. Can this effect me or my brother and the house?
Reply from DebtCollectionAnswers.com:
Possibly but it depends on the facts and circumstances of the situation. It is possible she could be sued, and the creditor(s) could try to get a lien against her portion of the equity. But it is also possible that there is some kind of exemption that protects her interest.
For example, in Florida she could have a homestead exemption that protects her interest.
If she is having trouble paying these debts we recommend she talk with a credit counseling agency as well as a bankruptcy attorney. Here is information on how to get a free initial evaluation with a bankruptcy attorney.
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