Urgent help

[philslyn]

Guys if any of you has a similar situation or knows about his situation and who could share an information to me i will GREATLY APPRECIATE IT!

Suppose as an independent contractor (real estate ) you make 60k a year
you rent for 2300 a month excluding bills for the house etc.
and have 15k credit card debts but mainly the problem is
HARD MONEY LOAN 120k house already taken by the madamme who loan the money, and now she got a default judgement and now has a lien against me, wanna take money every way she can such as through banks , debts occured 2007 as well as the judgement. can i file bk chap 7 with this and be able to have it discharge?

So basically if you have a lien against you and the creditor is just a person not a company who have taken your house already and now already wants to get inside your bank , is filing bk will relieve me from it?

I will appreciate any input to this one.. thanks guys in advance!!!

[newbie2]

Yes, she is a creditor just like a bank or a big business. You can file for bankruptcy and discharge your debt to her.

[tcreegan]

Hi philslyn,

She can't put a lien on you, only some property somewhere. What she has is a judgement against you. To collect on the judgement she can levy bank accounts, garnish wages, offset tax refunds,

What you can do is file BK, the judgement goes away, she goes away, the credit card debt goes away. You get a 'fresh start'

Keep asking questions, folks here will try to help out,

Tom in Colo

[philslyn]

Hi philslyn,

She can't put a lien on you, only some property somewhere. What she has is a judgement against you. To collect on the judgement she can levy bank accounts, garnish wages, offset tax refunds,

What you can do is file BK, the judgement goes away, she goes away, the credit card debt goes away. You get a 'fresh start'

Keep asking questions, folks here will try to help out,

Tom in Colo

as it stands right now, creditor ( a lady) already got the house , so debtor has no liabilities with the house anymore. However debtor still owe the creditor lady 120k and now creditor is trying to hit on the bank garnishment. I was told by one of the best forum guy here that the lien could be removed. I will read and ask and ask till i feel comfy. and thank u for taking your time and to the other one also who replied to my question.

[df04527]

You need to speak with a BK attorney. My humble understanding (from a similar situation) is that it will all "go away" as soon as you file. Whether or not you can file is quite the other story though.

I've read that "most" (whatever that means) BK's are driven because of judgements/garnishments.

[AngelinaCatHub]

as it stands right now, creditor ( a lady) already got the house , so debtor has no liabilities with the house anymore. However debtor still owe the creditor lady 120k and now creditor is trying to hit on the bank garnishment. I was told by one of the best forum guy here that the lien could be removed. I will read and ask and ask till i feel comfy. and thank u for taking your time and to the other one also who replied to my question.

It was explained previously that you do NOT have a lien. Only property has a lien. If another creditor has a lien on the repo'ed house, and you gave it back in a repo, that lien went with the house and the lady will have to satisfy the lien. That is the fact.

YOU have a Judgment in which she the creditor can lien on other property of yours if you have any, get a writ of attachment to your car if paid off or has high equity (above the states exemption) and take the car, can levy your bank account so keep a very low balance in it, but DO NOT CLOSE IT (attempt to hide funds) and can garnish wages.

As soon as, and I mean the minute you get a bk docket number, the automatic stay tolls (does not stop) all collection actions and law suits. This lasts as long as your case is open until either you are discharged or dismissed. If discharged, you must also ask the Judge to set aside the Judgment, it will go away, all creditors without secured loans are gone, and you have a new start in life. If dismissed, the tolling stops and you are back where you were for at least 6 months before you can C7 again.

Hope this is clear enough. 'Hub

[tcreegan]

Hi again philsyln,

I think you have is a 'deficiency judgement' Your creditor lady got the house but it didn't pay off all your debt, so she sued for the difference between what you owed and how much the house sold for

Good luck to you on this,

Tom in Colo

[philslyn]

Hi again philsyln,

I think you have is a 'deficiency judgement' Your creditor lady got the house but it didn't pay off all your debt, so she sued for the difference between what you owed and how much the house sold for

Good luck to you on this,

Tom in Colo

Yes exactly that! Tom Colo! She got the house already , and because she is trying to garnish my bank now, i will file chapter 7. i will gather all info first i have before filing and i will post to get opinions. THANKS GUYS THIS FORUM SITE IS THE BEST BEST BEST! and the people are great!