I put a judgement lien on someones property and they filed for a chapter 13 bankruptcy. they're house was suppos to be auctioned on may 23,07. they also owe the bank…will i see my money at all?
You lose out in a priority battle against the bank, so you'll see money out of the sale only if the auction sale proceeds total more than the bank's security interest and the costs of auctioning the property.
Also, bear in mind that Chapter 13 is essentially a debt reorganization plan in which the debtor will be required to make payments over a set period of time, not a straight-line liquidation of assets. So even if you don't see any money out of the sale of the house itself, you may see some recovery out of the repayment plan. Once the repayment plan is approved you will be paid pro rata out of the repayments according to your priority. You won't be repaid 100% of the lien, but you'll at least get something.
Just make sure that you respond to any inquiries from the bankruptcy trustee so that you ensure that your creditor status doesn't fall through the cracks. It's very doubtful that would happen since you have secured creditor status, but you never know so it pays to be vigilant.
