Bankruptcy invalidating liens Free sex chat nigeria

Credit Card Debt and Judicial Liens All liens don’t come about the same way.

However, if a lender has a lien attached to the obligation—meaning that the creditor can take certain property if the borrower fails to pay—things can get tricky.(Learn about keeping your home in Your Home in Chapter 7 Bankruptcy and your vehicle in Options to Keep Your Car in Chapter 7 Bankruptcy.) Here’s how this works: A secured transaction has two primary parts: a responsibility and a right. Mary buys a couch on credit from a furniture store.She signs a contract agreeing to pay for the couch over the next year.If the borrower doesn’t respond, the court will issue a “default” judgment, and the creditor will automatically win.If the borrower responds (answers), yet loses after defending the case, the court will issue a judgment, as well.

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(Find out more about UCC recordings in How to Attach and Perfect a Security Interest Under the UCC.) So why might filing for Chapter 7 bankruptcy be better than just letting the house or car go through foreclosure or repossession?

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