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Absolutely not. You cannot be your own creditor.

Absolutely not. You cannot be your own creditor.

Absolutely not. You cannot be your own creditor.

Absolutely not. You cannot be your own creditor.

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โˆ™ 2011-09-19 23:06:32
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โˆ™ 2011-09-19 23:06:32

Absolutely not. You cannot be your own creditor.

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Q: Is it possible to place a lien on your own vehicle?
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Can an individual place a lien on my car if it is paid for and I own it outright?

Yes, anyone who works on your vehicle for you can place a lien on it for the value unpaid.


Who owns the vehicle you or the lien holder?

Well, you own the vehicle subject to the lien. You cannot sell or refinance the vehicle until the lien holder is paid. If you don't pay the lien, the lien holder can repossess the vehicle. So you own it subject to your paying the loan.


Can a creditor's lawyer place a lien on a financed vehicle in the state of Texas?

When you signed the contract to finance the vehicle, the creditor put a lien on the vehicle. In the rare event that this was not done, it can be done later in some cases.Also, a creditor can place a lien on an already financedvehicle if there is more equity in the vehicle than the amount of the original loan. Generally, a creditor who obtains a judgment lien against you can arrange to place that lien against any property you own in order to satisfy the lien.


If you default on a personal loan can a lien be place against your vehicle?

If you own your car, its an asset, probably


Do you own your vehicle if the title is clear off lien holders?

yes


Can you sell a vehicle with a lien on the title?

Legally No. How can you sell something you do not own. As long as there is a lien, you do not own the vehicle outright. Go see the lender and get a lien release, if you no longer have a loan on the vehicle. Remember the lender is part owner of the vehicle until you make that last payment. If you clear the lien buy using the proceeds from the sale, you can guarantee a title within 30 days (required by law) to the new buyer. The lien holder will then release the title.


Can a lien be put on your spouse's vehicle if you do not own it and it is for a judgment again you and not your spouse?

its lion


Who has to own the house to place a lien against it?

That would be the debtor.


Will an impounded vehicle be turned to the lien holder?

Not unless the lien holder goes and retrieves it from impound themselves. The reimbursement of government fees (federal, state, or municipal) outweighs the priorities of the lienholder. When a vehicle goes into impound, the agency which impounded the vehicle puts their own lien on it, and that lien takes priority over the original lien. If the vehicle is not retrieved from impound, it will be auctioned off, and the lien holder basically gets shafted in the process. The person who took the lien out on the vehicle will owe the remaining balance still, and one of the money the agency auctioning the vehicle makes will go towards reducing the amount owed to the lien holder. To that end, you're better to let the lien holder repossess the vehicle and auction it, rather than have it impounded.


Is it possible to create your own tax lien certificate by placing a lien on someone's home without their permission if they have delinquent tax?

No. Only the IRS and/or state tax agencies can place a lien against real property of the person who has tax arrearages. Also, only the IRS or States can get a lien filed without going to court.


If someone gets a judgment against you can they put a lien on a car you own?

Unfortunately, the answer is: more than likely.That is, if the vehicle you own is free and clear of prior encumbrances, for example - it is entirely paid off and you hold the title to the vehicle free and clear.If you are in a situation where a lender can place a lien on your bank accounts, garnish your wages and place a lien on your tax refunds (varies from state to state), it is quite possible that the lender can "attach" your personal (auto, bank accounts, etc.) and real assets (as in real estate). Essentially meaning that if they (lenders) attach your property and you try to sell them off, they are likely to gain any profits (consideration = anything of value) from the sale.


What legal trouble can you get into for selling a car for parts but has a lien on it?

A lot. Legally whoever has a lien on the vehicle owns the rights to it until your loan/balance due is satisfied. You have no legal right to sell the car in the first place because you do not own it and would have to be an utter fool to do this.

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