I am looking at a home for sell in Ohio that has a judgment lien against it, what does this mean if I wanted to purchase the home?

The person listed as the owner owes me money from a small claims judgment in Tennessee. I don’t know how to find out if he has a bank account, so I cannot attach it. He cashed my check at my bank. He is a sole proprietor so he does not have to garnish himself. I am trying to collect. This is one sneaky snake and I could use all the advice I can get. Can I get a subpoena for information and find out where he banks?

I live in New York State.  My husband lent a man money.  The man did sign a promissory note but now he refuses to pay.

Can we put a lien on his property without a default judgement?? Or do we have to go to court to get the judgement first??

Do we need a marshall to enforce the judgment if we win??

What are our options for getting our money back??

It may help to know that this is NOT a landlord tenant issue.

Thanks!

As you realize, I am always in search of quality material to help you better understand Texas judgment enforcement issues. Earlier today, I came across an excellent article that talks about an aspect of judgment collection and thought you might find it helpful. Be sure you take a look at this information and tell me what you think.

You will find The full resource below for your convenience.

A Steady Increase in Judgment Lien

The current economic downturn has caused a steady increase in judgment liens levied against defaulted debtors.  This is because the economic downturn has largely been driven and mortgage crisis and general lack of available credit.  As banks and other financial institutions felt the pressure to generate cash and increase capital holdings, they began to call in all the risky and outstanding loans they had issued in previous years when credit was widely available and cash holdings were strong.  However, since the economy has declined, those with outstanding loans and mortgages cannot afford to repay those debts and have thus fallen behind on loan payments.  Desperate for cash, financial institutions have been forced to file lawsuits to recoup their financial losses.  This has led to an increase in judgment liens.

A lien, originally derived from the Latin word “ligament” which means to bond, is a legal claim on somebody else’s property.  It is issued by a court of law in order to repay a debt that has defaulted.  A lien can only be instituted through a legal case.  Therefore, the creditor or the original issuer of the debt must bring a law suit against the debtor.  This term is applied to a property in order to guarantee or secure the payment of a debt. In the United States a lien has come represent a very broad range of financial encumbrances.  However, in other common-law countries, this term has a very specific security definition and is a passive right to retain the before mentioned property, but not the right to sell that property to reclaim a debt.

A judgment lien is a specific type of financial encumbrance that is unique to the Western world’s financial and legal apparatuses.  This term refers to the particular judgment that results from a legal suit and delineates the specific properties or assets that can be held and sold to repay a defaulted loan. Unlike other common-law countries where the debt or loan holder does not acquire the right to actively sell the property or asset, a judgment lien is an active fiscal encumbrance.  This means that the debt holder can not only hold the before mentioned property, but can also actively engage in sale negotiations to help recoup potential losses due to bad or risky loans.

This particular financial encumbrance has been steadily increasing commonality due to the sudden economic downturn that has brought many debtors to edge of financial ruin.  Bankruptcy proceedings have sky-rocketed.  This increase is important when discussing judgment liens because, in many cases, when an individual declares bankruptcy debts and loans can be invalidated or, at the very least, significantly reduced.  Loan holders initiate legal proceedings to secure their debtors assets before bankruptcy proceedings remove those assets.
It is a clear sign that the economy has been severely crippled in the last few months when judgment liens increase.  These liens are often pursued as a last resort to regain some of the expected loss associated with a bad or risky loan.  They are expensive to initiate and legal proceedings can sometimes last days or even weeks, further reducing the amount of money regained by the financial institution.

Related Judgment Lien Bankruptcy Articles

I have recently been trying to buy a house. In the process, I found out there is a judgment lien against me on file at my courthouse. I filed bankruptcy in 2001, and this judgment lien is from 1999! This debt was included in my bankruptcy. My lawyer has retired since the bankruptcy and is of no help. The lawyer for the hospital I owed the debt to is telling me the lien will not be released unless I pay the debt?? How can this be? I thought the bankruptcy relieved me of my debts. I need some serious legal advice. The lawyer even told me I could offer the hospital a lesser amount to settle the debt. I thought it was illegal to try to collect a debt that was discharged in bankruptcy.
I called a couple of lawyers since my post. I know I must get copies of my bankruptcy paperwork…discharge, schedule of creditors, etc. I was also advised to NOT offer to pay anything on this debt until I get my copy of the bankruptcy paperwork. I was advised that if this debt was indeed included in my bankruptcy, then the hospital and their attorney have no legal rights to any property I own and must release the lien. I have my work cut out for me I guess. What do I do if they still don’t release the lien with proof of the bankruptcy? I don’t want to hire an attorney, but I guess I will if it comes down to it.