Legal Question in Credit and Debt Law in Georgia

Property Lien

What is meant by a lien on my property for amount owed due to repossession of an automobile? Can they foreclose on our mobile home? We owe $65,000 on our home and the outstanding amount from the automobile is $16,000. We offered to make payments on the amount but they told us that we would have to pay 10% down before they would accept a payment arrangement. My wife co-signed with me, so she is now responsible for the debt also. The mobile home is in her name and her mother's name. I am not listed on the note for the mobile home. The mobile home is on my mother-in-law's land. We just don't understand fully what is meant by the term ''put a lien on your property for the unpaid balance''. Thank you.


Asked on 7/07/05, 9:50 am

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Property Lien

You may be in a situation where (1) your home may be at risk (a judgment against your wife could be collected out of the mobile home, and (2) on October 17 you may lose the best way to deal with this, due to changes in federal law.

You may find that a Chapter 7 bankruptcy is an answer here to save the home and stop the creditor. If you're in the metro Atlanta area and want to discuss that, go to www.glenashman.com and download our free worksheet, and then call me for an appointment. (the deadline to file under the current law is October 16).

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Answered on 7/07/05, 8:55 pm


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