Only two points.
First, you have an attorney, you must deal with that attorney.
Second, failure to report an asset, and you are describing an asset, could be bankruptcy fraud. This makes it even more critical that you find your attorney.
Douglas Edmunds is in the business of helping people and companies file for bankruptcy protection. The bankruptcy code requires that I call my firm a "debt relief agency." Any answers or information provided is for general information purposes only and is not intended to be a legal opinion, legal advice or a complete discussion of the legal issues. This is not intended to create a attorney-client relationship. Each individual's situation is different and you should seek independent legal advice from an attorney familiar with the laws of your state for specific information.
Talk to your bankruptcy attorney immediately about amending your schedules. Depending on the value of the asset, it may not require you to modify your plan. But you must list it.
I am an Attorney with Fife & Cesta, a compasionate bankruptcy firm conveniently located off the US 60 in Mesa, Arizona. In addition to our other areas of practice, Fife & Cesta is a debt relief agency. We help people and families file for relief under the bankruptcy code. https://plus.google.com/#105782058221121955478/posts The answers given here are based on the information in the question, but for a complete answer you should have a consultation with an attorney you trust. Call (480) 850-6541 for a free bankruptcy consultation. We carefully evaluate your situation and give you real advice.
Bankruptcy requires full, complete, truthful disclosure of all assets, income and debt. A lien on a piece of real estate is an asset. Do not do anything at all with the lien until after your consultation, in the very near future, with your bankruptcy attorney.
This is what can happen when all assets are not listed: [Article linked below summarizes a chapter 7 case, but the principle is the same]
Law Offices of Andrew D. Myers, North Andover, MA & Derry, NH provide answers for informational purposes only. Actual legal advice can only be given by an attorney licensed in your jurisdiction, thoroughly familiar with the area of the law in which your concern lies. This creates no attorney-client relationship.
You need to clear this matter up as soon as possible. Make an appointment to see your attorney. At the 341 hearing the trustee likely asked if you put all your assets on your schedules and you said yes. A lien on property is an asset.
The trustee also generally asks if there is any claims against someone where you might be able to receive money.
Make sure you get your attorney to clean this matter up. Also, I would not make any more public posts like this since anyone including the US Trustee can read them. Keep it attorney/client between you and your attorney.
I agree with everything that has been said. Failure to disclose assets can be a serious issue (and is a federal crime). Speak with your attorney ASAP regarding amending your schedules and, if necessary, your plan.
This answer is for informational purposes only. This answer does not constitute legal advice, create an attorney-client relationship, or constitute attorney advertising. We are a debt relief agency. We help individuals and businesses file for bankruptcy protection under the Bankruptcy Code.