Atlanta, GA asked in Bankruptcy for Georgia

Q: What happens to my home equity in a chapter 13?

A 2013 divorce left me with the marital home, but it has 5 judgment liens placed on the title during the divorce from credit card debt.

These liens are approaching 5, 6 and 7 years of age and of course have ballooned to an enormous amount I'm absolutely unable to pay.

I make roughly $600 monthly and have nothing but my home which does have a lot of equity. Would chapter 13 rid my home of these judgment liens? And can I keep my home?

I recently recieved $10k and offered all of it toward 4 of the liens. No answer yet.

I'm sure these liens will renew. Will they just wait till I die to collect?

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2 Lawyer Answers

Timothy Denison

  • Bankruptcy Lawyer
  • Louisville, KY

A: Way too many questions to answer in a text bc there are so many variables to consider, but the short answer is yes, a Chapter 7 or 13 could help you resolve these issues permanently and likely help you keep your home. You need to consult with an experienced bankruptcy attorney who can analyze your complete financial situation and decide which route is best for you.

Kevin M Rogers

  • Bankruptcy Lawyer
  • Boise, ID

A: Bankruptcy allows you to avoid liens that impair the equity and title in your home and yes, Chapter 13 will get rid of these.

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