| Crystal Ibarra & Associates |
| Independent Paralegal Services |
Contact us
Telephone: Fax:
(562) 634-4155 (562) 634-4184
e-mail:
customerservice@crystalibarra.com
Have questions? Talk live now!
(562) 634-4155 (562) 634-4184
e-mail:
customerservice@crystalibarra.com
Have questions? Talk live now!
| ©2009 Crystal Ibarra & Associates- all rights reserved. |
Lien Stripping
| email us for additional details |
| Lien Stripping |
Liens can be stripped off of the debtor's assets in Chapter 11 or Chapter 13 when
there is not enough equity in the asset, after deducting senior liens from the
property's current market value, to secure the unsecured in whole or in part, where
the lien exceeds the value of the debtor's property.
Section 506 of the Bankruptcy Code acknowledges that a lien is only a secured
claim to the extent there is value in the asset to which it attaches. To the extent that
the claim exceeds the value of the collateral, that portion of the claim is unsecured.
In Chapter 11 or Chapter 13, even voluntary liens, such as mortgages and security
interests, can be stripped down to the value of the collateral, with the exception of
voluntary liens secured only by the debtor's residence. Unfortunately Congress has
thus far failed to change to bankruptcy law to allowing the modification of home
mortgages.
Contrast this procedure to lien avoidance pursuant to § 522, where only judicial
liens such as judgment liens or voluntary liens on household goods can be
avoided if the property would otherwise be exempt.
there is not enough equity in the asset, after deducting senior liens from the
property's current market value, to secure the unsecured in whole or in part, where
the lien exceeds the value of the debtor's property.
Section 506 of the Bankruptcy Code acknowledges that a lien is only a secured
claim to the extent there is value in the asset to which it attaches. To the extent that
the claim exceeds the value of the collateral, that portion of the claim is unsecured.
In Chapter 11 or Chapter 13, even voluntary liens, such as mortgages and security
interests, can be stripped down to the value of the collateral, with the exception of
voluntary liens secured only by the debtor's residence. Unfortunately Congress has
thus far failed to change to bankruptcy law to allowing the modification of home
mortgages.
Contrast this procedure to lien avoidance pursuant to § 522, where only judicial
liens such as judgment liens or voluntary liens on household goods can be
avoided if the property would otherwise be exempt.
We can help with your Lien Stripping needs!
Download one of the following Intakes to get started.
We completed your Chapter 13 Bankruptcy Petition
Line Strip Intake (existing client)
We did not complete your Chapter 13 Bankruptcy Petition
Lien Strip Intake (new client)
If you would like to Convert from a 7 to a 13 and Strip Lien:
If we completed the Chapter 7 Bankruptcy Petition
Please download the Lien Strip Intake
We did not Complete the Chapter 7 Bankruptcy Petition
Convert Chapters Intake
Download one of the following Intakes to get started.
We completed your Chapter 13 Bankruptcy Petition
Line Strip Intake (existing client)
We did not complete your Chapter 13 Bankruptcy Petition
Lien Strip Intake (new client)
If you would like to Convert from a 7 to a 13 and Strip Lien:
If we completed the Chapter 7 Bankruptcy Petition
Please download the Lien Strip Intake
We did not Complete the Chapter 7 Bankruptcy Petition
Convert Chapters Intake
| Please download your Intake, complete, scan and email or fax your documents to our office. Please return to our payment page to process payment. Once we have received all documentation, we will process your paperwork and forward to you for approval. Once approved, we will file your documents via ECF or forward the final paperwork to you for filing. -FOR US TO FILE ELECTRONICALLY- *ATTORNEYS MUST HAVE ECF ACCESS* |
| Help your clients keep their home! While saving time and money by utilizing our services! |
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