How to Protect Your Home from Creditors in OhioWhether you are planning to purchase a home or already own a home, there are certain things you can do to protect your home from being foreclosed on. If you are purchasing a home with your spouse, or already own a home with your spouse - then it is in your best interest to keep the home solely in the name of the spouse with the best credit. If one of you has bad credit and one of you has good credit, then you will want to protect the home from creditors going after the spouse with bad credit. Once someone defaults on a loan, or otherwise has a debt, a creditor can take that person to court and sue for monetary damages. If the creditor wins the lawsuit they obtain what is called a certificate of judgment, place a lien on any real estate that you own (jointly or individually), and they can foreclose on the property in order to collect on the judgment.
If you would like assistance in protecting your home from creditors, contact an attorney at Harris & Engler for a consultation by calling (614) 610-9988.