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?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

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 13 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 13 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/


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption