Can I remove a judgment lien in bankruptcy?

Yes, so long as certain requirements are met.  An Asheville NC bankruptcy lawyer can guide you through the steps necessary to remove the lien and make the most of the relief offered through the Court.

Under 11 U.S.C. 522(f) of the bankruptcy code, a lien can be removed to the extent it impairs an exemption which the client has a right to in North Carolina.  Typically, this means that a married couple can avoid a lien so long as they do not have more than $70,000 in equity (Remember, equity = value of property minus mortgage payoffs).  A single filer could do the same as long as they do not have more than $35,000 in equity.  Other exemptions work as well, but the homestead exemption is the one most frequently used because liens which are not removed would have to be paid if a client tries to sell their home at some point in the future.

If you have a judgment lien against you, make sure and tell your bankruptcy lawyer.  For those of you near Asheville, NC, I would be pleased to speak with you during a free, initial consultation.

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