Do Personal Debts-judgments Become Liens?

Comments(6)

• 
  reinatalie29th December, 2004

  Only if the creditor, tries to collect and makes it a lien,

• 
  KidInvestor29th December, 2004

  These people own money to Discovery Card.
  So this credit card company can take the property or do they do this to get paid if the home is sold? I did not know they can do this.

• 
  myfrogger29th December, 2004

  This is state specific. In iowa all judgements attach as liens to real property that the debtor owns EXCEPT if it is declared a homestead.
  
  Although many times a judgment is not a lien on the property the foreclosing mortgage holder will name the judgments in the lawsuit to prevent any complication or court battles later.
  
  You should consult your real estate attorney for state specific answers.

• 
  JohnMichael29th December, 2004

  The judgement must then be executed through what is called a Perfect the lien - A copy of any judgment certified in accordance with the laws of the United States or of the state of filing is recorded in the office of the clerk of the circuit court of any county. The clerk files, record, and index the judgment in the same manner as a judgment of a circuit or county court of the state. A judgment so recorded shall have the same effect and shall be subject to the same rules of civil procedure, legal and equitable defenses, and proceedings for reopening, vacating, or staying judgments, and it may be enforced, released, or satisfied, as a judgment of a circuit or county court of the state of filing.
  
  At the time of the recording of a judgment, the judgment creditor shall make and record with the clerk of the circuit court an affidavit setting forth the name, social security number, if known, and last known post office address of the judgment debtor and of the judgment creditor.
  
  A lien that is placed on property means that the property can not be sold or change title until the judgement award amount are paid
  [addsig]

• 
  focusonmoney29th December, 2004

  But is it possible that you can get the lien release from property if you call creditor and ask them?

• 
  JohnMichael31st December, 2004

  Quote:
  On 2004-12-29 21:20, focusonmoney wrote:
  But is it possible that you can get the lien release from property if you call creditor and ask them?
  
  
  Sure it's possible! What would be the worst thing they could say "NO".
  [addsig]