Can creditors take your house in NY?

Can creditors take your house in NY?

If you own a house, your creditor may be able to place a lien on the house. Before placing a lien on your house, a creditor must sue you to get a judgment against you saying that you owe a certain amount. Most creditors will not force the sale of your house to collect on a judgment.

Will Debt collectors take me to court?

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Often, you work with the creditor or debt collection agency, to decide on a payment plan, or come to some sort of agreement. However, if you are still unable to pay your debt, refuse to cooperate, or do not return calls or correspondence, the creditor or debt collection agency can take you to court.

Can debt collectors serve you papers?

Any party in a debt collection case is NOT allowed to serve legal papers, meaning that you must allocate someone impartial to serve the papers on your behalf. Although in some cases, people may choose a friend or acquaintance to do it for them, hiring someone is by and far the more sensible and effective option.

How long does it take for a debt collector to sue you?

This time frame varies by province: 2 years from acknowledgement of debt: Alberta, British Columbia, New Brunswick, Ontario, Saskatchewan. 3 years from acknowledgement of debt: Quebec. 6 years from acknowledgement of debt: Manitoba, Newfoundland, Labrador, Nova Scotia, Prince Edward Island, the territories.

What happens if I get served for a debt?

The Magistrates Court Process The court generally requires that it be served in person on any person over 16 living at your address. The Court will generally make an order saying that you owe the debt, plus legal costs and interest. This is known as a Default Judgment. It will be difficult to get this overturned.