answersLogoWhite

0


Best Answer

You don't file BK against a lien...YOU file bankrutpcy...and it includes everything you owe and everything you own. So the debt that needs to be cleared the lien is securing will be included. Of course, the debt will have first call (or cal in order of those holding higher liens on that property) at the proceeds from the asset it is secured by.

A short, rough primer:

BK is always done under Federal Laws, in a Federal Bankrutpcy Court. Basically State makes little difference. (Yes the BK Courts operating in certain areas have certain special exemptions and such, minor in the overall, generally intended to make things adhere to the local laws and customs better).

ALL of your assets, of all types, MUST be disclosed and reported in BK, and ALL of your liabilities/debts must be too. No exceptions, no picking and choosing.

The court will then order each of them in priority according to the laws, some things may be exempt from use or discharge (like your personal furntiure and retirement accounts are exempt and child support cannot be discharged) - and the rest may be used. With one to pay the other. Debts secured by an asset (say a car) have first call or right to the money received from that asset. If it isn't enough to pay the debt, the remainder becomes a general or unsecured claim against the BK. The end amount that can't be satisfied is discharged by the court...meaning you no longer owe it. You get a fresh basically debt free start....many of those you owe don't get paid what they had expected, if anything.

There are many other considerations too. BK will severly hurt your ability to get credit for a very long time for example. It is on your credit report for at least 10 years...and employers refer to that too. Many more things.

Not disclosing all items is frequently and easily discovered, in which case - as you are swearing under oath to the court you included all info - your case is dismissed, and regularly, fraud charges are pursued. (Courts don't take to being lied to well).

Many seem to fall into the trap thinking that they can trick or change the system. It simply ain't going to happen. The courts, Judges, laws, bankers, all those zillions of attornies, etc, have been through this thousands of times for many, many years. The processes are fairly well worked through and prepared for tricks and games. It is unlikely you would discover one that hasn't been tried a zillion times before! The Cos that claim they can change your record, or make magic happen (either before or after BK), are scams.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar
More answers
User Avatar

Wiki User

15y ago

Yes. It is probably more common than not. All mortgages are liens.

This answer is:
User Avatar

User Avatar

Wiki User

13y ago

Yes, of course, this has no relevance.

This does not imply, however; that the lien or underlying debt may be discharged by bankruptcy- such would be governed by the law as usual.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can you file bankruptcy against a lien someone put on your house?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

If someone is being sued for back rent and breaking their lease can they still file for bankruptcy?

Anybody can file for bankruptcy.


Can you file bankruptcy on your house if already in foreclosure?

Filing for bankruptcy may enable you to recover your house from foreclosure. However the bankruptcy would entail dealing with your entire debt situation, not just the house.


You owe your sister money can you file bankruptcy on that loan?

If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.


If credit card puts lien on house and i file bankruptcy can i still file the credit card in the bankruptcy?

You have to, it is a debt...it is just a secured debt...by the lien on the property.


How can one find out if one is able to file for bankruptcy?

To find out if one is able to file for bankruptcy, one should seek information from a lawyer or someone familiar with bankruptcy. Another option is to visit WikiHow's website.


Can you file bankruptcy on a fraud judgment?

If there is a judgment AGAINST you for fraud, then NO, such a judgment WILL NOT be discharged.


How does surrendering your house in chapter 7 affect your credit report?

If you are surrendering your house anyways, it is usually better for your credit score if you do it through bankruptcy. If your house is foreclosed on before you file bankruptcy, then your credit score is hit by both the foreclosure and the bankruptcy. If you let your house go back through bankruptcy, instead, then your credit score is only hit by a bankruptcy.


How do you file bankruptcy to get a judgment off your driver license?

Filing for bankruptcy will have no effect on any judgement that has been applied against your dirvers license.


Do you keep your house when you file bankruptcy?

I believe you can, by reaffirming the loan, but I don't know the details.


Did Deltona Corporation file bankruptcy?

No they never did file for bankruptcy


How many year after you file bankruptcy can you file bankruptcy aging?

If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.


Did ballenger construction harlingen Texas file for bankruptcy?

No, they did not file for bankruptcy.