What is a Judgment Lien

A Judgment Lien gives a creditor a right in your property after winning its lawsuit.  It helps the creditor collect what you owe.  If you don’t pay you may lose your property.

A judgment lien is created after you have been sued.  If the creditor wins its case it can obtain a certificate of judgment.  The certificate is filed in the common pleas court.  Your creditor now has an lien on your property.

Your creditor may try and sell the property or foreclose on it.  Your creditor may wait for you to try and sell the property.  When you do try and sell the property the creditor with the lien will need to be paid.

Foreclosure

Foreclosure is the legal proceeding against the property.  This happens when you have not been paying your mortgage.  When you signed the mortgage you gave the bank the right to foreclose if you failed to pay them.

What is a Lien

A Lien is a legal right your creditor has in your property.  It ensures you will pay your debt.  A lien can be enforced (you lose the property) if you do not pay the debt.

The bank you pay your car loan to has a lien on your car.  The bank will repossess your car if you do not pay the loan.

A home mortgage is a lien.  It gives the bank the right to take your house through foreclosure.

Taking the Time: Delaware, Ohio

Thank you so much for helping us through this difficult situation.  The first attorney I talked too said there was no way I could file Chapter 7, that it would have to be a Chapter 13 Bankruptcy.  You took a positive approach and made it work.  As questions arose, I could get in touch with you easily or you would get back to me promptly.  We also appreciated the much needed advice on how to move forward with our lives and our finances.  Thank you again!  You seem to really want to help people.  Its great to find an attorney you can really trust.  April 14, 2012.