Voluntary Liens

Sep 16, 2010

Debt Collector and Voluntary Lien
by: Mary

Thanks for submitting your debt collection question on our Q&A page.

A "voluntary" lien is just that -- a lien that you give to someone else, like a debt collector, because you want to, not because you have to. In other words, the debt collector cannot force you to give him the lien. However, you should NOT agree to a voluntary lien. If you do and then you can't pay the debt associated with the lien, the collector will be able to take the asset that secures the lien. Don't put yourself in that position!

I urge you to get more informed about your debt collection rights. One way to do that is to get our ebook Debt Collection Answers. You can read the first chapter of Debt Collection Answers online for free. It's important that you understand your legal rights when you are dealing with debt collectors and that you are clear about what you should and should not do when they are demanding money from you. Otherwise, you risk making a bad situation worse.

Please share what happens with your situation in the comments section for this question. We are very interested in hearing how this turns out for you, and your experience can help others who are struggling with debt collectors.

Voluntary Liens

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