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  1. #2
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Moving with Judgment Liens

    You don't have to tell the creditors that you move, but you want to ensure that you get your mail. Having it sent to an address where you no longer live would be a problem. And if you keep the property and rent it out you really don't want the renters getting your collection bills. So if you don't tell the creditors you move, at least give them a PO box or some other address where you will get your mail.

    As for the creditors foreclosing on your home, that's not going to happen with the information you provided. South Carolina exempts $59,100 of your home equity (meaning the vale of the home less what you owe on the mortgage) from attachment by judgment creditors. Since the total equity in your house is about $50,000 (taking both you and your wife's interests together) there just isn't enough equity there for the the judgment creditors to get anything if they foreclosed.

    If you sell it, though, the buyers will insist that the liens on the home be cleared as part of the sale, so you can't rely on the exemption to help you in that circumstance.

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