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.
What is Bankruptcy Lien Avoidance?
Posted on December 17, 2009 Written by
About Jill MichauxJill Michaux is a Kansas bankruptcy attorney with Neis Michaux Law Office. She and her partner, Mark Neis, are Topeka's only consumer bankruptcy law specialists. They are board certified by the American Board of Certification.
