Is this way out of the norm?


LoanSafe Member
Jul 19, 2010
I was very successful most of my life (I'm 57").
I had a 780 Fico.
I had my own business.

Between 2002 -2008 I got REALLY dumb.

For no apparant reason I accumulated around 12 credit cards with lines of credit ranging from $5000-$35,000.

That was the small stuff.

I bought my NYC condo for $100,000 and from 1992-2008 watched it go from $100,000 to $1,000,000.

It sounds insane and beyond irresponsible, and, of course, it was.

But, I had a very significant safety nest.

On October 8, 2008 when the Federal Reserve announced that we were going into a massive depression, over the next 4-5 years I lost everything and the only thing I was able to fight hard enough to keep (through Hamp) was my home.

But, the credit cards....

The 12 cards were maxed out to the tune of $120,000 and for 3-5 years I never made 1 payment but, suprisingly, I didn't receive as many collection letters as you would think. But it still was ALOT.

Here is the catch.
During this time I was on public assistance, medicaid, food stamps, etc.

With this ammunition, everytime I received a summons to come to court for one card or another, I researched it to death and represented myself.

What I had in my favor was a pile of documentation from NY State verifying the Public Assistance.

Well, after 5 years of showing up for every court case.... Every credit card was dismissed by the judge.

I have zero debt and zero credit.

When this all fell apart I said to myself under no conditions will I EVER allow myself to have a judgement... And I don't. And I wont.

I have a question.

Even though ALL of the credit cards were dismissed by the judge and all of the cases were dropped....if someday I were to decide to sell my home, which has a good amount of equity in it, and in 5+ years will have more....can any of these credit cards reappear out of nowhere and have a lien on some of the proceeds of the sale of the home?

Remember, all of the cards were dismissed.

Any ideas?