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Can the creditor attach or 'take' other property to satisfy deficiency?
Wiki User
∙ 8y ago
James, don't know what state you are in But unless your state prohibits it, YES. The lien will "attach" to the property and when she gets ready to sell it, lien will have to be satisfied first.
NO.They can only go after what property was secured by the loan.
Wiki User
∙ 8y ago
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Can a creditor garnish wages and seize money from a bank account in Michigan?
A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.
Can a creditor get a judgment and attach your debit card?
They wouldn't attach a debit card, they would attach the bank account. If there is a debit card the account is connected to, I suppose you could say they've attached it.
Can a creditor seize your bank account if your income is not enough?
A creditor can not seize your account unless: 1) They are also your bank and you signed agreements allowing "right of offset" where the bank can take funds from your accounts to satisfy delinquent loans you have with them. 2) Your creditor obtained a court order allowing them to attach funds or place a levy on funds. Insufficient income is grounds for credit denial but I am not aware of any possible situation where funds in a bank account may be frozen or taken when a loan is current and low income is the only problem.
When can a lien lead to foreclosure?
A real estate lien creates a secured debt by providing the lender or creditor holding the lien with a security interest in your property. Although your mortgage lender attaches a lien to your home as a matter of course, any other real estate liens that attach to the property do so because of debts you left unpaid. In certain situations, property liens can result in foreclosure.
If you are the executor of an estate and owe money to a lien holder can they go ofter money in the estate?
No. A personal creditor of yours has no right to attach the estate for which you are the executor. However, if you are also a beneficiary of that estate the creditor can go after your portion of the distribution.
Can repo company attach a lien on real property?
State laws vary but generally, a creditor can sue the debtor in court for any deficiency after the repossession and if successful can obtain a judgment. The creditor can then request a judgment lien from the court and once recorded in the land records the lien will attach to the debtor's real estate.
What is a writ of attachment?
An order issued by a court when a creditor has won a case against a debtor. It can be used to attach property so that it cannot be sold or mortgaged until the debt is paid. It can be converted to an execution by the court so that a sheriff can seize any property to satisfy the debt.
How many years behind do you have to be before a lean is placed on your property?
Any creditor that has obtained a judgement against you can attach a lien to any real property you own.
In Illinois can joint tenants who are also heirs intestate be required to sell the jointly owned property to pay the debts of the deceased?
Generally, jointly held property passes automatically to the surviving joint owner. It does not become a probate asset so it is not exposed to creditors. However, the situation changes if the creditor attached the property prior to the death of the debtor. Creditors can attach jointly held property while the debtor is living but if a creditor fails to attach prior to the death of the debtor then the property passes to the surviving joint tenant and the creditor is out of luck.
What can happen in the state of Georgia if a debtor can not afford to pay a judgment?
The creditor can file a civil lawsuit. If the creditor wins, he/she may be able to attach against property or garnish wages until the debt is paid.
Can life insurance proceeds be taken away if the beneficiary has judgments against them?
Generally, almost any property can be reached by a creditor if they can find it. There is usually a statutory provision that allows a creditor to attach property of a debtor that is in the hands of some third party. In Massachusetts it's called trustee process.
If a judgment was included in a bankruptcy can it be a lien against land purchased ten years later?
In most cases, no. If the debt was discharged in your bankruptcy, the creditor cannot attach a lien on property after your case is file. If the debt is non-dischargeable (i.e. tax debt, fraud, etc.) then the creditor can attach a lien until the judgment amount is satisfied.
If you own a house with your same-sex roommate if a creditor wins a judgment can they put a lien on the house if you owe a lot in mortgage and have very little equity?
Sure, if a creditor wins a judgment they can attach any of your physical assets whether it's real property or personal.
What happens after your creditor has sent your account to an attorney?
The attorney gives you some time to pay, then gets a judgment and uses the other legal options(garnishee wages, attach property, bank accounts).
Can a judgment creditor still attach your personal property if you are removed from your job by a doctor's order?
Yes, the issue of the person being unable to work is not relevant. All U.S. States have a set of exemptions that the debtor can use to protect a specified amount of personal and real property from creditor attachment, and in some instances,federal non bankruptcy exemptions can sometimes be used
What can a lender attach after a deficiency judgment has been issued against you and how far back if at all can they go to attach assets that have been disposed of?
In most jurisdictions the bank can attach any other assets you have. They cannot attach assets you transferred LEGALLY prior to this action unless the transfers were made for the purpose of avoiding creditors. If that was the case they can seek a judgment to capture the property so transferred.
Can a creditor garnish wages and seize money from a bank account in Michigan?
A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.
