If I have given an assignment of my life insurance policy as collateral for a loan, if I file bankruptcy does the creditor’s interest in the policy survive?

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If I have given an assignment of my life insurance policy as collateral for a loan, if I file bankruptcy does the creditor’s interest in the policy survive?

Like an interest in a car or house, or is their interest discharged?

Asked on June 10, 2011 under Bankruptcy Law, Indiana

Answers:

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

Assuming the lien is properly perfected under applicable state law more than 90 days prior to filing your bankruptcy case, the lien should survive any bankruptcy case.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/

Mark J. Markus / Mark J. Markus, Law Offices of

Answered 10 years ago | Contributor

Assuming the lien is properly perfected under applicable state law more than 90 days prior to filing your bankruptcy case, the lien should survive any bankruptcy case.

 

Mark J. Markus, Attorney at Law

Handling exclusively bankruptcy law cases in California since 1991.

http://www.bklaw.com/


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