What is a Judicial Lien and How Can You Avoid One?

What is a Judicial Lien? Let's start with a basic lien. A lien is an interest that a creditor acquires in property that allows the creditor to take the property upon the occurrence of certain Continue Reading

Lien Stripping: Removing a Second Mortgage in Chapter 13 Bankruptcy

Lien stripping for home mortgages underwater: In the wake of the 2008 housing bubble many homeowners are facing difficulties with refinancing, mortgages and foreclosure. In New Mexico 12.9% of Continue Reading

Let’s Make a Deal: Negotiating with Your Chapter 7 Trustee

In a prior post I discussed what is called “nonexempt” property and used the colorful phrase from a bankruptcy case that discusses whether property can be transferred from the “nonexempt” category to Continue Reading

Pigs, Hogs, and Nonexempt Property in Bankruptcy

In Bankruptcy Court, it’s all about the Pigs and the Hogs. “There is a principle of too much; phrased colloquially, when a pig becomes a hog, it is slaughtered. While . . . some planning of one's Continue Reading