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Barrister
Barrister, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36165
Experience:  16 years practicing law. Landlord 26 years
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I had a judgment lien on the debtor's residential home in

Customer Question

I had a judgment lien on the debtor's residential home in Texas, which is pending and the closing is scheduled this Friday. Several days ago, the debtor contacted me and offered to make one time payment. In exchange, i need to provide a release of lien so he can close the sale. Besides my judgment lien, the debtor also owed back due property tax. According to him, he would use the proceed from the sales to pay off the due tax, but not enough left to pay us. However, he would borrow money from his relatives to pay me in order for me to release the lien. Debtor filed chapter 13 bankruptcy a while ago and he filed a voluntary dismissal last week. It is my understanding that as long as his case is pending and not completely finalized, automatic stay applies which means i can't collect money from him. So my question is when i can collect the money he promised. Can i provide the title company a release of lien and also an agreement stating the condition that the release will be filed only upon promised payment, with the condition that the payment should be made after his bankruptcy case dismissed?
Submitted: 8 months ago.
Category: Bankruptcy Law
Expert:  Barrister replied 8 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

It is my understanding that as long as his case is pending and not completely finalized, automatic stay applies which means i can't collect money from him.

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You can't pursue collections against him. But there is nothing that would prevent him from voluntarily settling a debt by offering to pay you to release your lien.

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But if you come to an agreement, you can get that in writing between the two of you and then have the title company cut you a check directly from the the proceeds of the sale of the property and you go to the closing to get the check and sign the release.

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thanks

Barrister