Filing for bankruptcy can be a great way to stem off unsecured debts and relieve the debtor. When it comes to a judgment lien on real property, the solution may not be as simple as some would think. Even after completing bankruptcy proceedings and have the files closed, the judgment related to property is a form of debt that can remain on the books.
Depending on the county, state, or city the owner of the property resides will determine what a lienholder is capable of achieving. Other forms of judgment related to various debts can also have an impact on a homeowner’s ability to refinance or sell the property in order to get out of the debt. The bottom line, lien holders have a lot of resources at their disposal, and owners must understand the bits and pieces of what goes into a judgment lien on real property.
There are a few ways to eliminate a judgment lien on real property. It is possible to pursue technicalities within consumer protection laws that can erase a judgment, therefore eradicating the lien itself. This is a bit tricky and should only be attempted when consulting with a highly experienced attorney.
Paying off the judgment is another way to get rid of the situation altogether. Don’t be afraid to negotiate and renegotiate payment percentages. Solving debt issues usually comes with a great amount of leeway.
Then there’s Mayflower Judgments, a company that purchases liens and judgments for customers. Contact them at http://mayflowerjudgments.com to get the debt resolution process started.
