Posted on: 25th Aug, 2008 10:41 am
Can creditors put a lien on personal property?
Hi jay,
If you're paying back the loan, then I don't think the government will place a lien on your property.
Thanks
If you're paying back the loan, then I don't think the government will place a lien on your property.
Thanks
hi, my husband has 2 judgements against him. One is the Maryland State Tax in the amount of $1,500 and the other is a reposession of $14,000. Can they put liens on the vehicle we have with both our names on it, and also put a lien on our joint bank accounts? I need to know this answer. Concern spouse. :(
Hi maria,
The creditors might place a lien on the vehicle and may garnish the bank account. However, in order to do any of these, he will have to file a lawsuit against your husband and get a judgment in that regard.
Thanks
The creditors might place a lien on the vehicle and may garnish the bank account. However, in order to do any of these, he will have to file a lawsuit against your husband and get a judgment in that regard.
Thanks
To piggyback on James' assertions...
the lender in question would not only have to sue and obtain judgment, but your husband would have to default on that judgment (not pay at all) in order for them to come after any bank accounts or personal property owned. There's a rule of law here that prevents the lender from arbitrarily seizing property - a borrower must default on the terms of the judgment issued before that could ever happen. Keep in mind, by the way, that wages can be attached as well, in the event of a default.
If your funds are commingled, you might decide it's wise to separate them and maintain your own accounts to be free of seizure in a case like this.
the lender in question would not only have to sue and obtain judgment, but your husband would have to default on that judgment (not pay at all) in order for them to come after any bank accounts or personal property owned. There's a rule of law here that prevents the lender from arbitrarily seizing property - a borrower must default on the terms of the judgment issued before that could ever happen. Keep in mind, by the way, that wages can be attached as well, in the event of a default.
If your funds are commingled, you might decide it's wise to separate them and maintain your own accounts to be free of seizure in a case like this.
My wife and I bought some land recently. We paid cash for it.
the land has restriction, one of them being that you have to build a home within 3 years. We would like to wait 5 years to build.
Would they be able to sell the property at auction if we dont meet the restrictions. If so do they have to give us time to settle the problem before they do?
the land has restriction, one of them being that you have to build a home within 3 years. We would like to wait 5 years to build.
Would they be able to sell the property at auction if we dont meet the restrictions. If so do they have to give us time to settle the problem before they do?
Rimmer, who is "they"? You own the property free and clear now, though subject to the provision that you build. Owning it would seem to give you a particular position of strength.
I have to ask if you had legal counsel when you made the purchase, and if you did, are you still in contact with the lawyer. That would be the best source of an answer to your query; by the same token, even if you didn't have legal advice then, it's not too late to obtain some.
So, either speak with your lawyer or go find a lawyer who can answer the tough questions in your deal.
I have to ask if you had legal counsel when you made the purchase, and if you did, are you still in contact with the lawyer. That would be the best source of an answer to your query; by the same token, even if you didn't have legal advice then, it's not too late to obtain some.
So, either speak with your lawyer or go find a lawyer who can answer the tough questions in your deal.
I have a default judgement against me. I live in Illinois, I have a home in Illinois but I am upside down on my house, but I own property in Wisconsin with no mortgage. It is also in family trust can they put a lein on both properties?
Welcome Maryann,
The lender can only place a lien on the properties if he is able to get a judgment against you. In order to place a lien on your property in Wisconsin, he will have to get a judgment from a court in Wisconsin.
The lender can only place a lien on the properties if he is able to get a judgment against you. In order to place a lien on your property in Wisconsin, he will have to get a judgment from a court in Wisconsin.
hello
this is my question , i live in chicago and i owed 1000 dollars in back assesments i owned my shares no morgage. they sent be a eviction notice and gave me a date to be out thru the cook county court,, so i moved out now two years later they sent me a letter stating i owe 7000 dollars for back assesment and if not payed in 30 days they would put a lein on the property i will retire in 2 years and want to know if they can garnesh my wages or take any of my social security monies should i file bankrupucy as i do not have 7000 to give the co=op ass. this is a co-op.
this is my question , i live in chicago and i owed 1000 dollars in back assesments i owned my shares no morgage. they sent be a eviction notice and gave me a date to be out thru the cook county court,, so i moved out now two years later they sent me a letter stating i owe 7000 dollars for back assesment and if not payed in 30 days they would put a lein on the property i will retire in 2 years and want to know if they can garnesh my wages or take any of my social security monies should i file bankrupucy as i do not have 7000 to give the co=op ass. this is a co-op.
Hi kay,
If there is really an unpaid assessment, then they can come after you in order to recover the debts. They will be able to garnish your wages but they won't be able to go after your social security benefits. Also, in order to garnish your wages, the lender will have to file a lawsuit against you and get a judgment.
Thanks
If there is really an unpaid assessment, then they can come after you in order to recover the debts. They will be able to garnish your wages but they won't be able to go after your social security benefits. Also, in order to garnish your wages, the lender will have to file a lawsuit against you and get a judgment.
Thanks
Hi my fiancee owes a judgement to the state rev. of minnesota and his grandparents sold there home but all the kids and 3 grandkids were on the deed and my fiancee signed papers not knowing they would take his money ! Can they do that?
Hi lora!
Welcome to forums!
They can take the money if their names are mentioned in the property deed. They have equal rights to the property as our fiancé.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
They can take the money if their names are mentioned in the property deed. They have equal rights to the property as our fiancé.
Feel free to ask if you've further queries.
Sussane
My mother is in assisted living and I moved back home to be near her.I got behind last year on the butane bill and they refused to give me more gas so I changed butane co. I live in Texas and I have a outstanding bill with them that I have not been able to pay off. They are threatening to garnish my wages or a judgment . I don't really know what they can do. What happens when they take you to court. I only own my car and I am a self-employed sales rep. The house belongs to my mother.
Hi Brysonite,
In order to garnish your wages, the creditor will have to file a lawsuit against you and get a judgment. You will receive a summons from the court and you need to give a reply to the same. You can contact an attorney and he will assist you in this matter.
Thanks
In order to garnish your wages, the creditor will have to file a lawsuit against you and get a judgment. You will receive a summons from the court and you need to give a reply to the same. You can contact an attorney and he will assist you in this matter.
Thanks
James , can they garnish my wages if I am self employed? Also the house is in my mothers name but it is her property the butane tank sits on and was used by me in the house. Can they put a lien on the house? Also what is the worst that can happen to me besides garnish wages or lien on the house?What happens if I do not show up, they have no information on me?