Tyler S. asked
A bank has a lien on our personal property due to a personal guarantee signed by my husband for a business line of credit. The business closed, leaving a debt of $42,000 to the bank. We are in Wisconsin. Is there a statute of limitations on the bank's claim, and can the bank force a foreclosure action on our personal property to collect the lien? Additionally, there is an IRS lien due to payroll tax debt, and we have a payment contract with the IRS. Can the IRS force a sale by foreclosure even though we have a payment contract, and what happens to both liens after the statute of limitations is up?
February 29th, 2024
Joshua R. answered
Under Wisconsin law, a judgment lien on your property is valid for 10 years from the date of filing....
February 29th, 2024
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