I’ve a lien against my home as I bought a business and didn’t pay the full amount of the business.

I have been paying each month to cover the amount. However, currently the condition of the business is very poor and I’m thinking to close it and file for bankruptcy. Will it let me free from the debt and remove the lien from the home? What would be the best advice in this case?

1 Answers
Votes: 
6 votes
+
Vote up!
-
Vote down!

If you file for Chapter 13 and the first mortgage on your house is worth more than your house, only then you can get rid of any second mortgage or any lien.


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating