Typically when you purchase a home, car or even jewelry, a lien will be created so that a creditor can repossess the property if you stop making payments or a mortgage lender can foreclose if you do not pay the loan. If you are considering bankruptcy, the bankruptcy code lets you discharge, or release, most debts including car and mortgage loans, furniture and jewelry loans, credit cards and medical bills regardless of a lien. Now what happens if you decide to sell some of your assets to make … [Read more...]