Chattanooga Lien Stripping Lawyer

People equate bankruptcy with credit card debt, medical bills or personal loans. In truth, there are numerous benefits to filing for bankruptcy that might not be readily apparent. Contact a knowledgeable Chattanooga lien stripping attorney to learn more about your options.

The Tennessee lawyers at Kenneth C. Rannick, P.C., have guided thousands of clients through the process of filing for bankruptcy. Lien stripping is the process of converting secured debt into unsecured debt. This debt can include a second mortgage, a judgment lien or personal property liens. With the help of a skilled bankruptcy attorney, judgment liens can be avoided through Chapter 7 or Chapter 13. Do not hesitate to schedule a free consultation with a lawyer at our office.

"Since 1988 I have filed more than 14,000 bankruptcies for clients in the Chattanooga area and helped them get out of debt. I can help you too — and do it affordably." - Kenneth Rannick

Cleveland Mortgage Reduction Attorney

Chapter 13 bankruptcy laws allow for debt to be discharged through lien stripping. Even though lien stripping can often refer to several different actions, most individuals are concerned about how bankruptcy can affect their mortgages. The judge can remove an underwater second or third mortgage from a property once the homeowner successfully completes the Chapter 13 debt repayment plan. This is not possible through a Chapter 7 bankruptcy.

Essentially, if the fair market value of your home is less than the balance remaining on the unpaid taxes, plus your first mortgage, we can object to the secured status of the claim, thereby valuing the lien at Zero dollars. Upon discharge, the second mortgage is gone forever and the lien is satisfied. In this situation, individuals can breathe a sigh of relief and begin planning for a more stable financial future without the looming prospect of multiple mortgages on the same property.

Contact Our Firm

If you have questions regarding lien stripping, contact Kenneth C. Rannick, P.C. Contact our office by calling 423-954-7180 or by simply completing the e-mail form on this website. We offer free consultations and can maintain evening or weekend appointments based on the needs of our clients.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.