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Can Bankruptcy Help You Avoid a Lien on Your Kennesaw or Acworth Home?

Home » Videos » Can Bankruptcy Help You Avoid a Lien on Your Kennesaw or Acworth Home?

A lot of times, I get questions about whether filing a bankruptcy will help you discharge or wipe out any judgment creditors. Mostly what happens is maybe there was a lawsuit filed against you, the creditor obtained a judgment and they filed that judgment against your house. It depends on how much equity you have in the house as to whether you can actually wipe out that judgment creditor. Let’s say for example, that the house is worth $200,000 that you owed only a $100,000 and the judgment was for $20,000. Well, in that instance because there’s plenty of equity in your house, that judgment creditor is fully secured, and so that judgment cannot be wiped out.
Let’s take a reverse of example though. Let’s say for example, the house is worth $200,000 and including the second mortgage, you’ve got a balance between both mortgages of a quarter of $1,000,000 and that the judgment creditor has a judgment of $30,000. Well, in that instance, because there’s no equity in the house your lawyer can file what we call as a judgment lien avoidance in the bankruptcy case itself, it’s a special motion in order to wipe out that judgment.
As the judgments themselves, those do not arise unless you’re sued first. Just make sure that if you receive any civil litigation papers from the sheriff’s office that you respond to them promptly, because if you do not what will happen is there will be what we call a default judgment entered against you, and there are very short and limited time frames in which you can actually fight that default judgment. If you fail to fight the default judgment it becomes a valid enforceable binding judgment.
Another point to note is this, if you are in fact dealing with a creditor, and you’re continuing to make payments to them, there usually is what we call a statute of limitations defense that is for that creditor to be able to collect on the debt that you owe them, they have to file the lawsuit within six years of your last payment. If you have one of these creditors who has used another company to try to collect the money from you and this has gone on for years, and years, and years. Don’t make even a partial payment to them, because if you make that partial payment to them that’s going to renew the statute of limitations, and give that creditor another six years to collect on that judgment against you.
If you have any questions about any of these matters that we’ve discussed so far call my office at 770-792-1000 and I’ll try to help you the best I can.

Bankruptcy Blog Posts:

Bankruptcy Filings Continuing To Rise In 2010

Due to high unemployment and an uncertain economic climate, consumer bankruptcy filings in America have increased in 2010. According to statistics reported by the American Bankruptcy Institute, a

Chapter 7 Bankruptcy and Chapter 13 Bankruptcy Comparison

Good Morning, this is Roger Ghai of www.Chapter7attorneys.com. I wanted to do a little informational video on bankruptcy options. In particular, Chapter 7 bankruptcy options and Chapter 13 bankruptcy

Filing Chapter 7 Bankruptcy – January 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to News & Talk 1380 WAOK. This is Janice Mathis and we’re here this afternoon and every Sat. afternoon at 1pm to talk with one of our lawyers who’s

Difference Between Chapter 13 & Chapter 7 Bankruptcy – March 2010 Talk Law Radio Show Transcript

Janice: Good afternoon Atlanta and welcome to Legal Talk. This is Janice Mathis. This is my favorite hour of the weekend. I learn something new every weekend talking to these brilliant lawyers we have

Bankruptcy FAQ:

Bankruptcy FAQ
Bankruptcy FAQ

Frequently Asked Questions: Table of Contents Who is permitted to file and maintain a chapter 7 case? Who should not file a Chapter 7 case? Is there anything that a person must do

Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy
Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

The injunction is formally issued pursuant to 11 U.S.C. 362(a), commonly referred to as the Automatic Stay provision of the bankruptcy code, and it prohibits creditors from making further attempts to

Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?
Can Your Home Be Sold In Bankruptcy If You Don’t File Bankruptcy But Your Spouse Files Bankruptcy?

In a recent case, In re Beck Mrs. Beck filed for bankruptcy protection but her husband did not. Together they owned a property which was valued at about $530,000.00. The property had actually been in

Can You Claim A Homestead Exemption In A Home You Do Not Live In?
Can You Claim A Homestead Exemption In A Home You Do Not Live In?

The Chapter 7 trustee objected to Mrs. Goulakos’s claim of exemption because she did not live in the house and because she was not the one who claimed the homestead exemption under Massachusetts

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    Can Creditors Be Sued For Trying To Collect Debt After You File For Bankruptcy

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      Ghai Law Firm
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      LAW OFFICES OF ROGER GHAI

      1301 SHILOH RD NW STE 430

      KENNESAW GA   30144

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      • ABOUT
        • Testimonials
        • Join Us
      • Practice Areas
        • Personal Injury
          • Pedestrian Accident
          • Car Accidents
            • Speeding Accident
            • Drinking and Driving Accidents
            • Left Hand Turn Accident
            • Rear-End Collision
            • Reckless Driving Accident
            • Uber Accidents
            • Hit-and-Run Accidents
            • Texting and Driving Accident
              • Texting and Driving Under 18
          • Truck Accident
            • Lane Usage Accident
            • Traumatic Brain Injury
          • Product Liability
            • Defective Drugs
            • Defective Medical Device
          • Premises Liability
            • Slip and Fall Accidents
          • Wrongful Death
          • Dog Bite
        • Bankruptcy
          • Debt Relief
          • Credit Card Debt
          • Chapter 13 Bankruptcy
          • Chapter 7 Bankruptcy
          • Foreclosure Bankruptcy
          • Free Legal Case Review
          • Medical Bills Bankruptcy
          • Rebuild Your Credit
          • Wage Garnishments
      • Areas We Serve
        • Kennesaw Personal Injury Lawyer
          • Kennesaw Bankruptcy Lawyer
        • Acworth Personal Injury Lawyer
          • Acworth Bankruptcy Lawyer
        • Marietta Personal Injury Lawyer
          • Marietta Bankruptcy Lawyer
        • Smyrna Personal Injury Lawyer
      • FAQs
      • Blog
      • Videos
      • Contact