Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.
You may have to bring a motion to avoid the judgment lien if it impairs your exemptions for your assets (house, car).
Did you file chapter 7 or chapter 13?
Chapter 13 is a debt repayment plan, whereby you would pay the debt owed to keep the vehicles.
Chapter 7 eliminates debt, and you would pay the debt to get the asset, or you can discharge the obligation and let the creditor sell the asset to get recoup some of what is owed.
So, unless you are in chapter 13 repayment plan, you won't get the cars back.
What questions do you have?
I converted from Chapter 13 ton 7 in late August.
I converted from Chapter13 to 7 in August.
So, you will be able to discharge the debt owed to your brother in the chapter 7, he can sell the cars to recoup what he can
His still has a judgment lien on your home, so you may need to bring a motion to avoid the lien if it impairs your homestead exemption.
I understand your response. He has my cars, but their value has not been deducted from the total I owe him. I she allowed to hold them indefinitely?
basically - if there is no equity in the home after subtracting any mortgage balance and homestead exemption from the fair market value, the court can strip off his lien.
The bankruptcy does not automatically take the lien off, you'll need a motion to do it
if there is value after subtracting the mortgage and exemption, the court can reduce the lien to that amount on motion too
any other questions?
I'm not sure I understand. I am filing a mottion to avoid lien with regard to my house this week so that I can get my homestead exemption.. He will the get about $100,000
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).