Can the credit card companies attach a lien on a home or garnish wages?
Thanks for your guidance. I have enjoyed reading Money 2000 News. Keep up the good work. Credit cards are unsecured debts, unlike car loans or mortgages, where there is property securing a loan. Therefore, there is nothing that a credit card issuer can “take away” from you (e.g., like repossessing a car). However, if you don’t repay a credit card debt, there are still consequences. First, late payments can stay on your credit report for seven years and lower your credit score. Also, creditors can turn your debt over to a collection agency or obtain a court judgment to collect payment.
