BANKRUPTCY, FLINT BANKRUPTCY, FLINT BANKRUPTCY ATTORNEY, LAWYER EXPLAINS SECURED DEBTS IN BANKRUPTCY.
A Flint Bankruptcy debt is a secured debt if you will lose identified property real or personal when creditor payments are not made. How is a bankruptcy secured debt made. These debts are created when you the debtor sign a loan giving the bankruptcy creditor what is called a “ security interest” in your property. Most often these are home or car loans. Bankruptcy security interests are also created when a creditor files a lien which stops future sales.
Bankruptcy Lawyer Terry R. Bankert talks about these and other Bankruptcy issues on his popular site http://www.nojokebeingbroke.com
and http://www.attorneybankert.com writings on bankruptcy.
FLINT OR BAY CITY BANKRUPTCY SECURED DEBTS .
a. Tax liens in BANKRUPTCY- The taxing authority must record the liens against your property. Often these authorities are the IRS or state and local government. When in Bankruptcy Check to see if they have.
basmati Law created liens in BANKRUPTCY- Often these are called mechanics, materialmans or contractor liens. The creditor can assert or file a lien. When in bankruptcy check to see if they have.
c. Judicial liens in Bankruptcy- when the creditor loses a lawsuit they get a judgment. The creditor must record this judgment to create a lien. In Bankruptcy check to se if this was done.
d. In BANKRUPTCY personal loans from banks and credit unions or finance companies. You will have pledged valuable personal property such as a vehicle, or other property as collateral This property can be repossessed if you don’t make the payments.
e. In BANKRUPTCY store charges with security agreements. The norm is that credit card buys on a credit card are unsecured. Some stores like J.C.Penny’s and Sears claim to retain a security interest in all hard or durable goods. Often these stores make their customers sign a security agreement when charges are made.
f. In BANKRUPTCY loans for RV’s, motorcycles, tractors, boats, and cars.
g. SECOND MORTGAGES IN BANKRUPTCY- If you do not pay this obligation to a bank or a finance company they will take your house under foreclosure.
h. MORTGAGES IN BANKRUTPCY- As you know these are loans on your home purchase or refinance. If you fail to pay the lender can take or foreclose on your home.
A Flint or Bay City bankruptcy attorney lawyer will help you deal with these debits and eliminate some. If you have question contact Bankruptcy lawyer Terry R. Bankert Terry@attorneybankert.com
810-235-1970 or http://www.attroneybankert.com
My law firm is called a debt relief agency that helps you file for bankruptcy. (feds made me say that) Get your free consultation today. 810-235-1970