What do I need in order to put a lien on the property I sold to my son?
Full Question:
Answer:
Generally, when a person files bankruptcy, there is an automatic stay on collection efforts by creditors, so a lien may not be filed by a creditor after bankruptcy is filed. A party who has a claim against the bankruptcy estate and shows good cause for not being included in the
requirements of the automatic stay may ask the bankruptcy judge for "relief from the automatic stay."
Sometimes creditors offer debtors the opportunity to "reaffirm" a debt—in other words, to keep the debt and agree to pay it off even if it is eligible for liquidation. Debtors often do this when they feel it would be to their advantage to maintain a good relationship with certain
creditors. Reaffirming a debt does not improve the debtor's credit rating, and leaves the debtor with an undischargable debt, thus defeating the purpose of bankruptcy as a form of financial relief.