We have $45000 in credit card debt and own our home. Can the credit card companies make us sell our home to pay the debt?

Question

We have $45000 in credit card debt and own our home. Can the credit card companies make us sell our home to pay the debt?

Answer

You do not post enough details. Is this $45,000 in total debt? Or $45,000 on one card? How is the house titled? As husband and wife? What is the value of the home? Is it mortgaged? Whose name is the credit card debt in? Just your? Just spouse? Or both?

Depending on the answers, probably not if the home is mortgaged OR if the home is owned as a tenancy-by-the-entireties and the debt is only against one spouse. However, the debt will be a lien on the home if a judgment is entered.

PA provides no other specific homestead protection unlike some other states.

You do need to think about dealing with the debt in some way. Email me at [email protected]/* */ if you are interested in discussing more specifics.