If you are living off Social Security and a reverse mortgage have no estate but a house and car can a credit card company take these to satisfy their claim?

Answer

Maybe. It is difficult without knowing the state of residency to give an opinion. Every state has Homestead and other exemptions that prevent property from being attached and sold by creditors. Many states have statutes that specifically protect property of senior citizens and/or disabled persons. Social Security is 100% exempt from attachment by creditors. Other income and property "protection" is covered (or not) by state laws. It would be a good idea for the person(s) involved to consult an attorney who is well versed in Elder Law. Usually you can obtain a consultation or advisory session free or at a nominal fee.

First answer by Nikki. Last edit by Nikki. Question popularity: 29 [recommend question]

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Your mother is carrying 75000 of credit card debt and is still working at 83 Her credit rating is excellent She would like a reverse mortgage on her house will this jeopardise her house in the long te? If sherriff brings you a summon to an old house from a credit card and they can not find you what happens and if you are on social secrutiy? Can a credit card company take your house if you have a mortgage on it still and you don't file bakruptsy?