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  1. #1
    Join Date
    Jul 2009
    Posts
    1

    Default Lien Release After Discharge and Return of Property

    My question involves bankruptcy in the state of: MN

    I filed chapter 7 before the new laws came into effect. Included in that bankruptcy was a secured loan that I received in Colorado before moving to MN. This loan was through a private party. As collateral, I used a 1985 vehicle and a diamond ring. I received my discharge with no excemptions. The vehicle was excempt as the value was less than $500.

    Since receiving my discharge I've tried several times to get this person to return the ring and release the lien that he had placed on the vehicle, to no avail. I'm wondering what I can do now?? Is their any relief to be had through the Backruptcy court, or do I need to hire a lawyer??

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Lien Release After Discharge and Return of Property

    are you sure the courts didn't release your indebtedness in exchange for your creditor keeping the security?

    releasing of a debt does not necessarily release a lien. The fact you do not owe on the vehicle does not mean the lien holder cannot claim the security. It just means they cannot sue you for the money.

    If the courts did not release the lien, the the lien is valid and since the lien included the ring, that would not be able to be claimed by you either unless the courts ordered it.

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