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Can I Buy a House After Bankruptcy?
Can I File for Bankruptcy for Free?
Filing Bankruptcy for Small Business Relief
How Does Bankruptcy Affect a Credit Score?
How to Compare Debt Settlement vs. Bankruptcy
How to Erase Bankruptcy
How to Establish Credit a Year After Bankruptcy
How to Establish Credit After Bankruptcy
How to File Bankruptcy
How to File for Bankruptcy as an Individual Debtor
How to File for Bankruptcy for Your Business
How to Get a Bankruptcy Off Your Credit Report
How to Get Out of Debt Without Bankruptcy
How to Purchase a Car During Chapter 13 Bankruptcy
Renting a House During Bankruptcy
Tricks of Bankruptcy
Types of Bankruptcy
What Happens After Bankruptcy?
What Is Purchase Money Security Interest in Bankruptcy?
What Is the Fair Credit Reporting Act?
Comparing Consumer & Business Bankruptcies
What Is Chapter 7 Bankruptcy?
What Is Chapter 11 Bankruptcy?
What Is Chapter 13 Bankruptcy?
What Is Chapter 9 Bankruptcy?
What Is an Unsecured Claim in Bankruptcy?
What Is a Secured Claim in Bankruptcy?
How are Federal Exemptions Determined in Bankruptcy?
Requirements for Eligibility for Chapter 13 Bankruptcy
What Is an Executory Contract & Breach?
What Is a Fraudulent Conveyance?
What Is Equitable Subordination?
How to Determine If a Conflict of Counsel Exists in Bankruptcy
How to Determine Jurisdiction for Bankruptcy
How Do Judgment Collections Work in Bankruptcy?
How to Negotiate a Corporate Bankruptcy Plan
After filing bankruptcy, the only way to get a house back would be to buy it back for the amount of the lo… More
Both mediation and arbitration are alternative dispute resolution procedures that can be resolved without … More
Foreclosure mediation is a great way to take a foreclosure and make it right. Through the mediation proces… More
Conflict between organizations, domestic partners, or individuals can often reach a point where resolution… More
File for bankruptcy as an individual debtor by hiring a professional bankruptcy lawyer, gathering informat… More
Bankruptcy can be filed if a person is married in ways that may or may not affect the credit rating of the… More
An unsecured claim in bankruptcy means that the bankruptcy filer will not receive any money until all the … More
After filing for bankruptcy, the best way to survive is by living in a cash world before attempting to reb… More
Items subject to purchase money security interest, allow the creditor the right to recover that property f… More
A secured claim in bankruptcy means that the bankruptcy filer is secured to a specific item or items of th… More
A Chapter 7 bankruptcy is also known as a liquidation bankruptcy because non-exempt assets are taken from … More
Student loans cannot generally be discharged with a bankruptcy filing, but a separate motion can be filed … More
Binding arbitration is a process through which an independent third party serving as an arbitrator is hire… More
Summary: Items subject to purchase money security interest, allow the creditor the right to recover that property from your bankruptcy if an agreement and payment plan of the remaining balance can't be compromised. Learn more about bankruptcy and liens with information from a lawyer in this free video on bankruptcy.
Andy Forman, Attorney at Law, has been in bankruptcy representation for over two decades and has lead council in over 3,000 bankruptcy cases. Forman is a member of the Florida Bar and...read more
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"Well, you've filed your bankruptcy and you've heard the term purchase money security interest. What in the world is that? My name is Andy Forman and I'm a business and consumer bankruptcy lawyer in Tampa, Florida and I deal with the I deal with the issue of purchase money security in the bankruptcies I file. In order to understand a purchase money security interest, you need to understand the concept of a lien. A lien is a claim that a creditor has against a specific item of property. In bankruptcy, the company that loans you money to buy the car, they have a lien on the car. If you went to an electronic store and bought a plasma T.V on the company account, on the store account they have the purchase money security interest in that plasma T.V. What that really means for you is when you have an item that is subject to a purchase money security interest, that creditor has a right to recover that property from your bankruptcy if you and them cannot reach agreement on payment of the remaining balance or some compromise of that balance. There are other types of liens that are not purchase money but the significance of having a lien is that in your bankruptcy, a creditor that has a lien has a right to that specific property. I'm Andy Forman, good luck with your bankruptcy."
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