Legal Question in Credit and Debt Law in Utah

debt collection

Is a leased vehicle considered an assett? If so why? If a person is leasing a home a lein can't be put on the property, right??


Asked on 3/07/08, 11:38 am

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: debt collection

Leased property still belongs to the actual owner. If you lease property, a creditor cannot place a lien against the property, unless you acquire some equity in it. I am guessing that the collector you are talking to is threatening to file a lien against your leased car and/or home. This is a prohibited threat and its a violation of the Fair Debt Collection Practices Act, for which the collector can be sued.

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Answered on 3/07/08, 3:05 pm


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