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Because you promised to pay back the money they loaned you, they can certainly secure their right to obtain repayment by having a court authorize a lien on any property likely to be liquidated when they win their case and the value of the repossessed car will not cover the outstanding payments.
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∙ 16y ago
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What is a non-consensual lien?
If you take out a loan from the bank and put your car up as collateral, this is a consensual lien. If you owe taxes and the IRS put a lien on your property or bank account, this is a non-consensual lien.
What is a non-consensual?
If you take out a loan from the bank and put your car up as collateral, this is a consensual lien. If you owe taxes and the IRS put a lien on your property or bank account, this is a non-consensual lien.
Can a loan company put a lien on your car if its not paid off?
If the vehicle was put as collateral for the loan, there already is a lien on it.
What does is mean to have a lien on ones property and tenets?
A lien is a security interest in the property. A lien might arise from a loan. If you buy a car with the bank's money the bank will put a lien on the car. If you don't pay the bank back, it can foreclose on its lien and take the car from you. If you have a roofer add a new roof to your house, and you don't pay him, the laws allow the roofer to put a lien on your house. The roofer now has a stake in the house. If you don't pay off the lien your house can be forcibly put up for sale in order to satisfy the lien. I believe "property and tenets" translates into modern speak as "property and belongings".
Can creditors put a lien on a deceased property if there is no will?
The existence of a will has no bearing on whether or not they can place a lien. If they have a legitimate debt and a judgment, or an agreement in the loan regarding a lien, they can place the lien on the property or the estate.
Can I get the lien off of a vehicle that is no good and put it on another vehicle that is in my name?
If I have a car in my name with a lien on it and the car Is only god for scrap metal can I put the loan lien on my wifes car if she transfers the car to me.
How much money do you get for a car lien?
Answer lien on car?i let someone borrow 1100.00. he doesn't own a home. and he has a cr with a loan on it. can i put a lien on the car??
Putting a lien on your drivers license?
can a car loan company put a lien on drivers license
What does it mean if there's a lien on a car title?
A lien on a car title most typically means that money is still owed on the car. When a person takes out a loan on a car a lien is put on the title until the full repayment of the loan.
Can a debt collector put a lien on your car if it is registered to your spouse?
No, if it is your debt only and your name is not on the car. Unless you used the car for collateral for a loan, they can't put a "lien" on it anyway.
Can the lender put a lien on another car if a cosigner refuses to pay another car loan?
no
What if the car loan people forget to put a lien on the title?
If the bank or car company doesn't put a lean on your car.......you own it.
