
07-20-2009, 08:21 PM
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Senior Member
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Join Date: Nov 2006
Posts: 3,504
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I'm afraid I agree with John. Bankruptcy does not generally aleviate liens.
Will a bankruptcy filing absolve all debts?
No. Certain obligations will remain after a filing, such as child support payments for individuals. Nor does bankruptcy eliminate liens on property. It is yet another reason to consider bankruptcy carefully.
Lien: a creditor’s legal claim on assets or property secured by a debt. A bankruptcy will not necessarily eliminate a lien without a court invoking or initiating certain procedures
Understanding Bankruptcy | BNET
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