Credit card debt and joint ownership of house

by Jan
(Atlanta, Ga)

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

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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