Legal Question in Bankruptcy in Georgia

Non-purchase money lien

Your personal liability for the non-purchasemoney loan was discharged, but the lien, likeall liens not otherwise addressed specifically,survived the bankruptcy. However, you may beable to reopen the case and do what should have been done initially: file a motion underBankruptcy Code section 522(f) to avoid the lien. Your lawyer should have done this foryou if s/he knew about the lien.

Non-purchase money lien

Whenever property of the bankruptcy estate secures a debt, the debt is a secured debt, regardless whether it is a purchase money loan.In a bankruptcy secured debts must be affirmed or the security must be redeemed or surrendered.If you re-open the bankruptcy, you may redeem the household goods by paying either the balance of the loan or the value of the household goods, whichever is less.See what you can negotiate with the creditor but, by all means, contact the lawyer who filed the bankruptcy for you.

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