Credit Tips: Can Creditors Put a Lien on Your Property?

Posted On: July 24, 2006

Author: desperado
Posted: Mon Jul 24, 2006 5:42 pm
Post subject: some help needed…

I was going to apply for a secured CC, BoA…

I still have existing debts out there from a previous life disaster that according to Cap. One, who is one of the creditors should be charged off by now, to the point where they are offering me a CC vs. the old debt with credit increases as I pay off old debt… but it’s old, 8-10 years…

Question is, can previous creditors lien (etc.) the “secured account” at the BoA?

Anyone have any experience with this?

Thanx in advance…

Despo..

Author: fitz75
Posted: Mon Jul 24, 2006 6:29 pm
Post subject: Re: some help needed…

Quote:
I was going to apply for a secured CC, BoA…

I still have existing debts out there from a previous life disaster that according to Cap. One, who is one of the creditors should be charged off by now, to the point where they are offering me a CC vs. the old debt with credit increases as I pay off old debt… but it’s old, 8-10 years…

Question is, can previous creditors lien (etc.) the “secured account” at the BoA?

Anyone have any experience with this?

Thanx in advance…

Despo..

Creditors can’t put a lien on anything unless they get a judgement against you. Even then I doubt they would be able to put a lien on your secured credit card.

Author: TomfromCT
Posted: Tue Jul 25, 2006 7:08 am
Post subject: Re: some help needed…

[quote="desperado"]I was going to apply for a secured CC, BoA…

I still have existing debts out there from a previous life disaster that according to Cap. One, who is one of the creditors should be charged off by now, to the point where they are offering me a CC vs. the old debt with credit increases as I pay off old debt… but it’s old, 8-10 years…

Question is, can previous creditors lien (etc.) the “secured account” at the BoA?

Anyone have any experience with this?

Thanx in advance…

Despo..[/quote]

A little off topic but…

I did the rehab hab account w/ cap one and it was a great experience.

My FICO’s are as high as 770 now.

As far as your question, the rehab account never had any effect on my other outstanding balances.