Legal Question in Credit and Debt Law in New York

Re: liens placed for credit card debit

Not obligated at all. Bankruptcy may be a drastic option but may be necessary. Consult with a practioner in this field. Bankruptcy should, however, wipe out any uncollected judgments.

Good Luck

RRG

Re: liens placed for credit card debit

First, there must be a court judgment in order for the lien. Were you properly served w/ that summons and failed to answer it? If not, is the debt over 6 yrs old? If so, you should speak to an attorney re vacating the judgment.

Second, you have no obligation to "fund" the lien.

Third, bankruptcy filing will stop further debt collection (not release the lien) and when completed, then will discharge the debt/lien/ judgment, etc.

Last, bankruptcy laws have changed and you may not be able to discharge the debt in full, if at all.

Re: liens placed for credit card debit

A bankruptcy filing in and of itself would not remove the lien. You would need to file a motion in the Bankruptcy Court to avoid the judicial lien. You could do that to the extent that the lien impairs an exemption to which you are otherwise entitled. In bankruptcy you are allowed to exempt certain types of property. If you don't own real estate or have any equity in real estate you may be able to claim an exemption in cash up to the limits provided in the exemption law. This is a complicated area and you should consult competent bankruptcy counsel. Please feel free to visit my website for more info. about personal bankruptcy (search "STARR & STARR, PLLC NY" in Google & you will find it).

Best regards,