I have been been out of work for over a year with disability case. I have equity home that spouse is paying for, can I consolidate without losing my home?
The options available to you will depend on how much you owe on your credit cards, whether you are qualified to get a loan that will pay them off, and whether you can afford to make the required payments on such a loan.
There's no reason to think you would lose your home to creditors for credit card debt. Even if the creditors were to sue you and get judgments, to foreclose on a residence is difficult and almost never happens in the case of credit card debts. Nearly all foreclosures are the result of the homeowners inability to pay the mortgage. It may help you to discuss your situation with a bankruptcy attorney in your area.
This answer is for general information purposes only and is not legal advice. No attorney-client relationship is intended or formed by the posting of this answer. Law Office of Lisa J. Espada * San Francisco, CA *
Debt consolidation is usually a bad idea. Talk to a bankruptcy lawyer to review all of your options before you do it.
More information is needed to give you useful advice. How much equity do you have in your home? How much unsecured credit card debt do you owe? It is not wise to transfer unsecured, dischargeable debt to a secured debt status by consolidating it with a home equity loan. Set up 2-3 appointments with an Avvo BK lawyer to help you sort out your options. Some of us offer a free consultation by phone or in person. Good luck to you.
You are not my client and I am not your attorney. This advice is given in the spirit of the AVVO platform and is based on general legal principles. You become a client when you enter into a formal retainer agreement with me.
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