Legal Question in Consumer Law in Missouri
I am considring avoiding a large unsecured debt by waiting out the statue of limitations instead of filing bankruptcy...my question is - what happens when the creditor files suit and perhaps gets a lein on my house (I have a lot of equity that I need to protect) - does a lein stay on the house forever?
1 Answer from Attorneys
A lien remains on property until it is satisfied. What is likely to happen once a lien is in place is that the claimant will move to execute on the lien. This would be done by forcing a sale of the house, then satisfying the lien out of the home's equity. Thus, you may not want to wait until a creditor gets a judgment against you. I suggest you talk with a bankruptcy and creditor's rights attorney. I don't do bankruptcy, but feel free to contact me regarding details on creditor's rights.
Sean Santoro/Licensed in KS and MO
Related Questions & Answers
-
I withdrew money from an atm machine and did not get me atm card back. Because of... Asked 2/09/10, 12:17 am in United States Missouri Consumer Law
-
Purchased a vehicle in MO, 1/19/10, with an agreement with the dealership to deliver... Asked 1/30/10, 11:13 am in United States Missouri Consumer Law
-
I had an issue with AT&T, my DSL modem stopped working. Their technician... Asked 1/30/10, 9:44 am in United States Missouri Consumer Law
-
When buying a used car from a dealership are they to warranty the car for 30 days? Asked 1/27/10, 6:48 pm in United States Missouri Consumer Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
