Re: Does anybody know HOW This became a secured lien?

Posted by observer (64.12.96.205) on May 01, 2003 at 13:28:28:

In Reply to: Re: Does anybody know HOW This became a secured lien? posted by ValleyLady on May 01, 2003 at 12:14:43:

I think Susan left out a lot of the story. I think she got sued and ended up with a default judgment.
All unsecured means is no specific collateral backing the loan. That means if they sue and win, they can take the judgment and lein specific assets, levy bank accounts or, garnish wages. WHatever your state allows as far as collecting a judgment. Onc something has been reduced to a judgment, the options are very limited.

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