• Jonathan R Bunn

Avoiding household goods liens

Many of our clients have borrowed money from loan companies that require a security interest in household goods (televisions, fishing poles, game systems, etc.) and the question is what happens to that lien in bankruptcy. We can set aside most liens for non-purchase money security interests in households goods. As long as we claim the property exempt and the money borrowed was not used to purchase the item, and the item is household furnishings, household goods, wearing apparel, appliances, books, animals, crops, musical instruments, or jewelry that are held primarily for the personal, family, or household use of the debtor or a dependent of the debtor; implements, professional books, or tools, of the trade of the debtor or the trade of a dependent of the debtor; or professionally prescribed health aids for the debtor or a dependent of the debtor; then you can discharge the underlying debt, set aside the lien and keep the property.

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