If they aren't reachable, can this be vacated?
If this company filed chapter 7 bankruptcy, the bankruptcy trustee now controls this debt. If it filed chapter 11, the company or the creditors committee owns the debt. Secured debt doesn't usually disappear because the creditor suffers financial problems. Get on pacer & do the research on the status of this creditors bankruptcy case. Hope this perspective helps.
Unfortunately, the only way to get rid of it is by paying it off or settling. Another pain is even if you wanted to settle, it will be difficult to find someone to negotiate with until everything gets sorted out in the bankruptcy.
None of this is legal advice. It is for informational purposes only and does not create an attorney-client relationship with anyone reading it.
As Ms. Bunce stated, either the chapter 7 trustee or the debtor, if a chapter 11 was filed, still owns the debt. The bankruptcy record should tell you who controls the debt and how to contact that person or entity. You can contact the party that now controls the debt and attempt to settle for less, but the part of the debt that is forgiven may be taxable income under § 108 of the IRS Code.
Another option would be to file bankruptcy and have your attorney file a motion to avoid the judgment lien in your bankruptcy case. This will work provided the equity in your home is less than the homestead exemption limit in NC.
You should meet with an experienced bankruptcy attorney that handles chapter 7 and chapter 13 cases. Most bankruptcy attorneys will meet with you at no charge for the initial appointment. You can use the Avvo "Find a Lawyer" link at the top of this page to search for an attorney
Answers and comments provided are for general discussion only. My comments are not to be considered legal advice and they do not create an attorney-client relationship.
While the advice given is good for companies that have recently filed bankruptcy, I believe that Hudson and Keyse went out of business more than 5 years ago and therefore there is no bankruptcy estate to deal with and no trustee to deal with. I had this happen to me as well. I had a debt that I owed and the company I owed it to was merged into another company. The new company refused to take my payment and a judgment remained. What I would recommend is (a) contact the attorney that represented Hudson and Keyse in the court action that resulted in the judgment and get a letter stating that the judgment is no longer valid or ask them to file a document in the action stating they are withdrawing the judgment lien, or (b) file a declaratory judgment action to declare the judgment lien as invalid since the company that holds the lien is no longer in existence.
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