24 Hour Toll Free Help



Liens are common in home mortgages and car loans. Liens can be an impediment to transferring title of the car or property. Borrowers who own property which has a lien against it may be forced to sell the property or asset to repay the monies owed to the lender. This can generally be done if the borrower fails to make loan payments and the loan is in default. Monies made after the sell of property (with a lien) by the borrower must be used to pay the lien holder before the title is considered "clear" and possession of the property can be transferred to a new buyer.

Several types of liens exist and can include money owed for work done to improve property. This is considered a mechanic's lien and can include non-payment for work done such as maintenance, repairs and construction. Prior to buying any type of real property such as a home or car it is important to verify there are no liens. Public records can be searched or a company can be hired to perform a title search to verify that the property can be owned with a clear title. Public records contain information about the history of the property, the description of the property, the owner of the property and whether or not there are liens against the title. Individuals who do not ensure a property has a clear title may purchase the property only to discover they must pay additional money to the lien holder to own the property free and clear.

More Help on Lien

  • Collateral - Individuals who wish to borrow funds may have to offer collateral or assets which are \"pledged\" to the lender as security for the loan amount. If the borrower is unable to repay the loan the collateral can be given or transferred to the lender who issued the loan in order to settle the debt obligation. - read more

Find Other Articles

Chapter 7 and Chapter 13 Bankruptcy Help

The two most common consumer bankruptcies are Chapter 7 and Chapter 13, our sponsoring lawyers handle these types exclusively so you can be sure you are getting accurate legal advice when you file bankruptcy. Our Bankruptcy attorneys will fight to protect your rights and your property, fight the aggressive and annoying creditors for you, and they can help you keep your home, vehicles and other property.

A lawyer will be committed to getting you debt relief and providing you with valuable information, services and advice to get you a better financial future. There are many convenient locations to make filing bankruptcy or learning about the alternatives we offer, even easier.

Get Help Now

Recent Bankruptcy Articles

  • Home Equity and Bankruptcy
    If you have equity on your house, then it is possible to use that equity in order to pay off your Chapter 13 bankruptcy at a much faster pace.
    - read more

  • Fair Credit Reporting Act
    The primary purpose of the Fair Credit Reporting Act is to ensure fairness and accuracy of credit reporting, and that the procedures followed are reasonable.
    - read more

  • Most Common Reasons for Bankruptcy
    A list of ten most common reasons people usually file for bankruptcy, including harassment from creditors and to end wage garnishments.
    - read more

  • Student Loans and Bankruptcy
    According to new changes, your student loan will only be discharged if the bankruptcy court is convinced that paying back the loan would bring about undue hardships for you or the people who are dependent on you.
    - read more