Bankruptcy invalidating liens

A judgment lien is a type of nonconsensual lien (a lien that attaches to your property without your agreement). If the respondent is represented by counsel who has appeared in the case, the motion will be served electronically as part of the ECF system. How to draft a Debtor’s Motion to avoid a Judicial Lien?

It is created when someone wins a lawsuit against you and then records the judgment against your property. A judgment lien can be imposed on your property only after somebody sues you and wins a money judgment against you. Most likely, in connection with a motion to avoid a lien, the party which holds the lien will not have entered an appearance through an attorney and will have to be served in the conventional manner. The following language is a template that can be used in a Motion to avoid a Judicial Lien: 1.

Many times, judicial liens can be avoided through the power of persuasion.

That is, you may be able to avoid a lien by convincing the other party that any lawsuit would be a waste of time.

•You are entitled to claim an exemption in at least some of your equity in the property. In order to avoid the security interest, counsel must file a Motion to Avoid Lien under Local Rule 9014 for the Eastern District of Pennsylvania. If no response is timely filed (and these Motions usually go unanswered and uncontested), a Certification of No Response should be filed. §522(f)(l)(A) to avoid and cancel a judicial lien held by (creditor) on Debtor’s property (name of property). Debtor became indebted to (creditor) as a result of (description of transaction that resulted in the debt). What is the procedure for filing a Debtor’s Motion to avoid a Judicial Lien?

A lien on real property means that the debtor cannot sell the property until all liens are paid. A nonconsensual judgment lien on property can be avoided if all of the following are true: •The lien resulted from a money judgment issued by a court. While a Chapter 7 bankruptcy can eliminate your liability for the debt secured by property, it doesn’t eliminate any liens on the property unless you take the required steps that may be taken to reduce or eliminate the liens. WHEREFORE, Debtor moves this Court for an Order which would cancel and avoid the security interest held by (creditor) in Debtor’s property and for such additional or alternative relief as may be just and proper.

You've heard it dozens of times: "the best defense is a good offense." This definitely holds true for asset protection.

In addition to shielding your assets when attacked, asset protection planning has another ancillary benefit that serves your goals: the more judgment-proof you make yourself, the less likely it will be that a creditor will bother to pursue a case against you., Or at the least, you may be able to influence a settlement, possibly sooner rather than later.

Thus, a payment or transfer of debtor asset with in suspect period will have detrimental effect to the other creditors and hence it is suspect transaction.

The lien is the interest that a creditor or other entity has in specific property, where ownership of the property is evidenced by a legal title document and can also apply to property described in a contract for a loan, where the lender exchanges a lien on the property for the loan, even if the loan was not used to buy the property.

A recording and perfecting of the lien on the title document can prevent the conveyance of a clear title to another, which, in most cases, will prevent the sale of the item.

Thus, to understand suspect transactions, it is necessary to define what insolvency means and when do we say the person is insolvent?

Simply, insolvency is inability to pay the debt when they become due and payable.

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