Will bankruptcy erase a judgement lien?

Question

An attorney file a judgement lien on my home from a credit card debt. When I file bankruptcy, will that go away? There is no equity in the home to speak of. We are planning on keeping the home and I am in Michigan.

Answer 1

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate. I came across this company on NBC News Special Edition.Check it out here:

http://click.linksynergy.decenturl.com/c...

Answer 2

You need to learn what a lein is . It forbids you from  selling the house, untill you pay off the debt.

If you declare bankruptcy, the lein holder is a "secured creditor " and any assets that you have, such as  the house, furniture, cars or money in the bank, will be seized and sold to  pay  the debts that you have created.

You  cannot simply walk away from your debts, and bankruptcy is no shelter from secured creditors.  What ever  you have that is worth money, will be sold to satify the creditors.  

You need a lawyer, now . Be informed.

Jim B. Toronto.

Answer 3

Judgment liens and tax liens are considered involuntary liens

It is hard to answer this question because you do not mention which type of bankruptcy you are filing.  Each chapter (7, 11, 13) are different in what can be discharged.

Because this lien involves unsecured debt the scope of the discharge is different in each chapter.  The Bankruptcy Code after October, 2005 makes the Chapter 13 discharge only slightly more encompassing.

Put most simply, most unsecured debt is dischargeable.  Most secured debt survives bankruptcy as a charge on the property to which it attaches unless a court order modifies the lien or the lien is paid in Chapter 13.

Remember states vary in what they may consider a dischargable debt.  Consult a qualified attorney in your area to check local laws.

Here is a link to understand bankruptcy laws and the various types.  It is free info:  http://www.moranlaw.net/consider.htm

And also, a lien does NOT prevent one from selling their home, all it means is that if there is any profit from the sale, any secured liens are satisfied first, then if there is any $$ left,  unsecured liens are paid.  

Hope this answers your question:

LEGAL DISCLAIMER:  The advice contained herein is for informational purposes only.  It is not to be construed as Legal Counsel nor Legal Advice.

Answer 4

You'll probably lose your house if there is a lien on it.  You'll have to ask questions of the bankruptsy people in your area.