I co signed auto loan for my son years ago. A court judgement was placed against me and a lien placed on my home in Mass. Does this lien ever expire and if it does when? I took the Homestead protection after the lien was applied. I am thinking about filing for bankrupcty to get it removed. Any help would be appreciated
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Editor's Response
This is a rather complex area of bankruptcy law, and one that is certainly beyond my basic understanding of bankruptcy law. Here is what I know: Under Massachusetts law (and its interaction with federal bankruptcy law), the issue of whether a lien can be removed is dependent of whether the debtor is able to claim certain exemptions. In essence, if a motion is filed by the debtor to remove a lien, the bankruptcy court may grant that motion if and to the extent that the lien interferes with the debtor's ability to claim an exemption that he is entitled to.
Obviously, before you file bankruptcy, you will need to talk to a Massachusetts bankruptcy attorney, explain your situation fully, and find out which exemption you can and should take advantage of and whether that exemption creates a situation where the bankruptcy court will agree to remove the lien(s) in question. Many bankruptcy attorneys in MA offer a free initial consultation. Sadly, I cannot answer that question for you. Good luck.