What is Bankruptcy Lien Avoidance?

Avoidance: The Bankruptcy Code permits the debtor to eliminate (avoid) some kinds of liens that interfere with (or impair) an exemption claimed in the bankruptcy. Most judgment liens that have attached to the debtor’s home can be avoided if the total of the liens (mortgages, judgment liens and statutory liens) is greater than the value of the property in which the exemption is claimed. This is sometimes called “lien stripping.” For more, see Lien Avoidance and Lien Stripping.

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One Response to What is Bankruptcy Lien Avoidance?
  1. [...] 550 (each time it 600 (each time it from definition of household appears). appears). goods for lien avoidance purposes. 522(n)maximum aggregate value 1,095,000……… 1,171,650 of assets in [...]

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