Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

can i go to the bank with a judgement lien i have on someone and get a secured loan on it?

2 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Probably not. The fact that you have the lien in the first place would indicate that you've had trouble collecting the outstanding amount.

    As a general rule banks want as little risk factors as possible when lending money, and the lien is in no way guaranteed. To the bank, the logic would be that if you were able to collect what you were owed you wouldn't need the loan.

  • 1 decade ago

    You are a secured lendor with whoever the judgement is against. You can sell that loan to whoever will wil give you money and accept the risk of collection.

Still have questions? Get your answers by asking now.