Will bankruptcy cover a storage unit that you are renting and now has a lien on it?
(asked 146 months, 20 days ago in memphis, TN)
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Queens TN 11366
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(718) 529-7777
Blutter & Blutter, Attorneys at Law
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Granted over an item of property in order to secure payment of a debt or even the performance of another commitment, a lien is a form of security interest. Placing a lien on your storage unit is done to secure rental payments. Typically, you can add your storage unit to the list of creditors you owe and systematically discharge them during your bankruptcy process. However, depending on the terms and language of your storage lease, a lien connected to your rental could make the storage company viewable as e secured creditor, which would likely affect your coverage. The best way to resolve this issue is by contacting a professional bankruptcy lawyer who can directly address all of the nuances of your circumstance in order to provide you with the most comprehensive answer to your question.