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Can creditors put a lien on personal property?

Can creditors put a lien on personal property?

larry2's picture
larry2 | Joined: June 27, 2007 02:50 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi swanneesue.

Welcome to the forum. The creditors of unsecured debts can place a lien against your personal property but to place a lien against your property, they will have to sue you and get court judgment to put lien on your real property. You can try to contact the creditors and work out a repayment plan to pay off the creditors. Feel free to ask if you have any further questions.

Best of luck,
Larry

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s.mckaybiz's picture
s.mckaybiz | Joined: April 24, 2008 08:05 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Right on Larry! :D

I'd just like to add that it would be very rare for a creditor to go as far as placing a lien on any personal property you might own. Most creditors would rather just sell your debt off to some collection agency instead of bearing the financial burden of taking you to court. I guess it depends on the creditor and how much money you owe them...

good luck!

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banker0679's picture
banker0679 | Joined: November 15, 2007 10:05 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome to our forum swanneesue,

To answer your question this will vary on state guidelines.
Not all states allow this, and the above posters are correct with the process of obtaining a judgement.

Make sure to respond to all summons if you are served or they will win a default judgement against you. Also, make sure to check the 'statute of limitations' of your state. Sometimes the statute of limitations are 'up', but the creditor still goes after the borrower. If they do take you to court, then just bring up the statute of limitations. The judge will automatically render a verdict in your favor.

Good luck!

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a lein on my property for debt my ex-husband has. The creditor are telling me to sell my home and give half of the proceeds to them. My EX owes them 6500 I offered to pay the 6500 to remove the judgement and lein My home is in both of our names so the creditor is saying the own half of my home. Why can't I just pay the 6500? Can they actually own my ex-husband's half of the home?

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banker0679's picture
banker0679 | Joined: November 15, 2007 10:05 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Daisy welcome to MortgageFit!

I would recommend that you FIRST speak to a real estate attorney. You need to get a copy of the judgement/lien also. DO NOT negotiate anything until you do the above first.

Collection companies are known for lying, and they can't be trusted.
One thing that you have to take in account is that the judgement probably has an interest rate attached to it. If you dont pay it off soon, then the interest will continue to accrue on the account.

Also, different states have different laws pertaining to a lien on homestead property. This is where your real estate attorney can help you.

thanks
Robert

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

good to see you again, robert. i have to agree with you in that their "ownership" of half of the house is one of those big lies told to try to persuade someone to do something immediately.

in all likelihood, there is a judgment lien that would need to be paid prior to your disposing of the property (such as a sale). but it's favorable to satisfy the lien as soon as you can so as to eliminate the interest costs that would add up.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I have recently purchased land appraised at 9000.00. Five years ago I had 2 car repossessions in the same year. Is it possible for the companies to place a lien on our land (which we plan to put a home on soon) due to the balances owed on these repossessions? The repossessions show on my credit report as 'charge offs'.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if the lenders in question seek judgment in court against you, they would have the right to file a judment lien, yes. are there judgments outstanding against you in connection with the repossessions at this time?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have not had any papers served on me about a judgment. I am a licensed practical nurse and if there were any charges against me I would have been made aware of them while I was in school which was less than a year ago. Should I contact the court system of the county where this took place to make sure?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

you could certainly do that felicia.

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beagle.box's picture
beagle.box | Joined: June 17, 2009 11:08 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

If you owe money to a creditor then he can put a lien on anything you own..
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jk.9999's picture
jk.9999 | Joined: July 15, 2009 09:19 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

from the perspective of investor, it is very easy for a contractor to put a lien on your house if you do not pay for his job..

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a question..maybe someone can answer..I live in GTA toronto..I had a debt of $26000..My husband lost a job and we couldnt pay..while i was away from the country my creditors got the judgment against me..I didnt know until i got the papers that they have put lein against my house after sometime..i tried negotiating but they wanted the whole amount at once..I sold my house 2 weeks ago and i found out they R charging me $45,000 with interest and legal fees..I lost almost $75,000 in closing costs and my legal fees and bla bla and didnt got a penny..my question is are they entitle to charge tht big interest from sept 2008 to july 2009 $15000??

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi ajk!

Welcome to forums!

I think the lender is charging the interest rate as well as the late fees associated with it. That's the reason why they have charged a high amount to you. It would be better if you could contact your lender and negotiate for a low payment. However, it would depend upon the discretion of the lender whether or not he would consider your request.

Feel free to ask if you've further queries.

Sussane

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i have no notion what the laws are in canada, but i can address this from what i know about my local laws in the usa. once a creditor obtains a judgment, that creditor is entitled to continue to add interest until the debt is repaid. i'm not certain what the rate of interest may be, but the numbers will mount up.

i will agree with you, however, [b:7bb7fdcf27]based on what you said to be the case[/b:7bb7fdcf27], that the interest charged ($15000?) is quite high. i gather the remainder was legal fees. you can likely check with the court which issued the judgment and/or an attorney in order to determine if what you've been charged was fair.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I had a car repossessed 5yrs ago. I live in NC and I understand that there is a five year Statute of limitations to pursue action in this state. That SOL passed last month. They sent me a settlement offer of 40¢ on the dollar. I was thinking I should just let this go since it has passed the SOL and since it will come off my credit report in 2 yrs. My question is does the SOL start at the last payment, the repossession, or the sale of the car at auction?

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi KP!

Welcome to forums!

As far as I know, the SOL period and the credit reporting time period for the "deficiency" starts on the date the vehicle was repossessed. The SOL period won't start from the date of default.

Feel free to ask if you've further queries.

Sussane

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

not to discount sussane's post, but i really think that when you have questions concerning specific laws, you are best served to pose that question to someone well-versed in law (lawyer, maybe?). in this case, i'd suggest slightly differently...call the state attorney general's office to get clarification about the statute of limitations. you can also check, for limitations on credit reporting, etc. with the federal trade commission.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I co-signed for my daughter for a car, she fail to pay and they repossessed the car and sold it in action and got $4,000.00, I was informed that I owe the remaining balance of 11,978.00 and if I don't pay it, they will put a lien on my home. I am a retired disabled veteran and do get disability and social secuity disability and my army retirement. Can the collector put a lien on my home. Dora

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if the creditor deems it necessary to sue you, then they can place a lien on the home once judgment is received. yes, as cosigner, you are liable to pay and a lien could end up being placed on your home. most creditors who file judgment liens are satisfied to wait until the home is sold to collect their debt, so foreclosure is not a likely prospect in any event.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

that was me...forgot i had logged out.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my husband was served a citation from a collection agency can they freeze my checking account it is not in his name

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

a creditor cannot touch your personal account unless you are obligated on the debt. please don't worry.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my checking account is a dba business account that my small business has credit card deposits put into it I was worried if maybe I should close my accounts?

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

ditto for a dba account - a creditor cannot attach an account that doesn't belong to its debtor.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if they win a judgement against my husband will they place leins on my home and cars can they make me sell them, they have already served him with a citation can we still make arrangments with them to pay this out, we tried before all this to make payment arrangements but they wanted so much a month if we couldn't even keep paying on the cc we sure couldn't afford the 750.00 per month they wanted. what should we do?

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smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to forums!

If your husband's name is on the property, then the creditor can place a lien on them if he wins the judgment. You can always negotiate with the credit card company so that they can give you a payment plan to pay off the dues. So, you should have a word with your creditor and check out if he can reduce your outstanding balance.

Feel free to ask if you've further queries.

Sussane

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

my ex husband got a judgement againest him for a unsecured loan for his business that has since closed I just found out they put a lien on our property and we just sold it can the creditors get my half of the money? I should mention there is not enough equity in the house to pay the lien

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Knowing your credit report and whats on it is very important. BuyerSelllerConnection can help.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

for anyone wishing to check his or her own credit report, please use annualcreditreport.com, as this is the only authorized site in use - authorized by the major credit reporting agencies.

for credit-related and rights-related inquiries, you ought to check ftc.gov - the federal trade commission's site.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if my husband gets a judgement against him for half a million dollars for breaking a lease, can they take away our second condo at the beach that is under both our names

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

not until he defaults on that judgment, and even then there'd have to be a foreclosure notice filed, you file your response, and things drag on and on until resolved.

conceivable? yes. will it take forever and a day? yes, i'd say so.

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi vaso,

The creditor can place a lien on the jointly owned property. Whenever you try to sell off the property, you will have to satisfy the lien first.

Thanks

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I just want to know when can i see my answer,sorry this is my first time in the forum

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

marla, what is the question?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Thanks qmakerly,well I already post the question,but looks like I did in the wrong place,well this is is
My husband have a truck he is an owner operator,since the economy start going down ,but y get us for surprise(I did not ever think it wioll be that fast)anyway my husband job decline so much that we have not able to do our debts payments,but we focus in our house payments not to be late,so,because we already have not being paing for about a year or so in our debts,I was thinking to put my husband truck in a mfriend name so the court would not take it way from us,this is the only thing we have to do our money for the house and food so far,thanks

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

oops,,but it get us for s....(I did ... it will be...)

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

well I talk to my husband about thje question i did to you ,but he say that that is not possible and that it not the way to do things,sorry to bother you

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

and i came upon your original question elsewhere earlier and answered it there also.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I live in south carolina and i had a motorcyle that had got repo and he didn't know he had a judement on him for 6000 what can i do to reduce the judgement because he is on disablity and we can't afford that much on the debt i want to know if they could take our land away from us

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

don't worry about real estate being taken gina...the judgment will sit until it's paid off. the creditor could file a judgment lien against your property and simply wait for payment when you sell the property, if you do. they could (very slim possibility) file a foreclosure notice, but you'd have ample opportunity to repay the debt before you'd ever run the risk of losing the land.

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello, I received a judgment against me from a creditor for 10k. A lien has been placed on my husdands home which I reside in. Is it legal in GA to place liens on property that's not owned by the debtor? If not, how can I release the judgment?

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jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Julia,

Is your name mentioned on your husband's property deed? If your name is mentioned on the property deed, then you are one of the owners of the property. If your name is not mentioned on the property deed, then your creditor cannot place a lien on your husband's property for your debts. You need to contact your attorney and take legal steps against your creditor.

Thanks

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello,

No my name is not mentioned on the property deed. I will consult with an attorney.

Thank you for your response.
Ronny

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

A creditor is stating they are going to file a lien against my home with the clerk of court in my county. What happens when they do this? Can they then sell my home out from under me? This is not my mortage company, but a creditor.

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gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

it's possible, once they receive a judgment in court, that the creditor could place a lien on the home. ultimately sell it? no...they'll then wait patiently for their money when you sell or [url=http://www.mortgagefit.com/refinance.html]refinance[/url].

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I got a judgement against me from a collections company after I was unable to pay any further on my account. How can an unsecured loan then result in them attaching themselves to our hom?

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banker0679's picture
banker0679 | Joined: November 15, 2007 10:05 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

any judgment won against you can put a lien on your home/property IF your state law permits it. All state laws are different

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a person that moved from my property and abandoned their mobile home. Mortgage company is trying to sell the mobile home. How can I collect my rent?

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Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I keep receiving a call from a law firm voicing they are going to put an attachment on my property . I have called them several times explaining that I do not know the person they are calling about who owes the money he does not live at my address and never has they keep voicing I am not being truthful. I have never heard of this person though he does have the same last name, can an attachment be put on my house

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