A lien is a claim that one person or other entity has over the property of another as security for the payment of a debt. Liens can be either voluntary or involuntary. A voluntary lien is contractual or consensual, meaning that the lien is created by an action taken by the debtor, such...
When the property owner has failed to pay a debt, a legal claim can be filed against the home. This gives the creditors a way to recover the money owed to them. A common type of lien is a mortgage, which the homeowner takes out voluntarily. Unpaid bills, on the other hand, can lead...
on the other hand, do not work with hypothecation because there is no collateral to claim in the event of default. As hypothecation provides security to the lender because of the collateral pledged by the borrower, it is easier to secure a loan, and the lender may offer a lower interest r...
You should also be aware of the implications of the lien itself aside from your credit rating. A lien on your property doesn't mean that the IRS is going to take your property. Instead, it just provides the government with a legal claim on your assets. So if you try to s...
Falling behind on your loan or credit card payments is never a pleasant situation to be in. You're probably wondering how this may affect your tax refund. Watch this video to find out more about how judgments can affect your tax refund.
You rarely notice them when things are going well because they help with home loans, auto loans, and other parts of your life. But when things go badly, liens can make your life difficult—or help you protect your interests.1 What Is a Lien? A lien is a legal claim or a ...
aif at any time there shall be evidence of any lien, attachment, charge or claim to which, if established,the property may be subjected and which is made against contractor, company shall have the right to retain out of any payment to be made under the contract 如果任何时候将有任何先得权...
Avoiding judgments and liens is crucial when building business credit, as it helps maintain a positive credit profile. A judgment is a court's decision on a legal matter, while a lien is a legal claim against a property to secure payment of a debt. Judgments and liens can significantly impa...
63. What is a mortgage lien? Answer:A mortgage lien is a legal claim by the lender on your property, which can be enforced if you default on the loan. 64. What is forbearance? Answer:Forbearance is a temporary reduction or suspension of your mortgage payments, usually granted during financ...
if a taxpayer does not pay their tax debt within a reasonable amount of time or owes substantialback taxes, the IRS might file a federal taxlien(a legal claim against a taxpayer’s property) with the local county clerk’s office. A tax lien filing is considered public information, and the...