Can a lien be placed on a property because a co-signer’s debt went into collection?

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Can a lien be placed on a property because a co-signer’s debt went into collection?

My wife is a co-signer on a car loan; she also co-signed on a loan for her mother and her mother lost the car. The went to a collection agency. Can the collection agency put a lien on the current of which I am the primary account holder?

Asked on May 15, 2012 under Bankruptcy Law, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

There are some words missing here.  But if a creditor obtains a judgement against your wife then they can levy against anything that has her name on it.  SO they can levy on bank accounts.  They can file a lien on real property.  I would strongly suggest you get help here.  Good luck.


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