Woodland Hills Lien Stripping Lawyer

Bankruptcy Will Remove Your Obligation to Some Loans

In both Chapter 11 and Chapter 13 of the Bankruptcy Code, the debtor may be able to remove a lien on a property. The process of doing this is called "lien stripping."

To lien strip, the debtor must show that the property has no equity to secure the lien. If this happens, the debt will be re-characterized as an unsecured debt, and the lien may be stripped in the bankruptcy.

At The Law Offices of Michael H. Raichelson in Woodland Hills, California, we work on a daily basis with the complex laws and procedures involved in the bankruptcy process. For more information, contact us online or at 818-921-7306.

Will the Court Strip My Lien?

There are numerous situations in which a lien can be stripped and/or "crammed down" to its actual value for the purposes of bankruptcy. Among them:

Vehicle loans. A car loan may be "crammed down" to the value of the vehicle. For instance, if a lender holds a $13,000 loan on your car, but your car is only worth $10,000, the loan balance may be "crammed down" to $10,000 depending on when the car was purchased.
Tax liens. Tax liens may be stripped if there is no value for them to attach to.
Mortgages. If the balance of your first mortgage exceeds the fair market value of your home, you may be able to strip off the second mortgage (or third mortgage) because there is no equity securing the second mortgage (or third mortgage). This leaves the debtor/homeowner with only the first mortgage secured against the property. For example, if your first mortgage is $150,000 and your second mortgage is $30,000, but the value of your home is only $140,000, you may be able to "strip" off your second mortgage.

California Loan Modification Attorney

Our competent bankruptcy lawyer will explore lien stripping as part of a comprehensive restructuring of your personal or business finances.

We offer free consultations and accept payment by debit card. For a free consultation, contact us at 818-921-7306.

We know how to get our clients a discharge if they qualify. We have a high success rate for qualifying bankruptcies.

Spanish translation is available. Servicios de traducciones disponibles.

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

I was in a really horrible place financially after the collapse of my business due to the economic recession. A friend referred me to the law offices of Michael Raichelson. At the very first meeting Mr. Raichelson put me at ease, assessed my situation and informed me that bankruptcy was the best option and told me he would guide me through the entire process. Everything went so smoothly and I'm so grateful to Michael and his staff for their support and successful resolution of my case. 'm now off to a brand new start and life! R.B
If you are going through a bankruptcy this is the attorney to use. He is a thorough, caring and most of all a patient attorney who knows how to get the job done with no surprises. I highly recommend him and would hire him again. N.K.
We are extremely satisfied with how Mike handled our case. After consulting with numerous lawyers about our bankruptcy filing, we picked Mike because he proposed a bankruptcy filing strategy for our situation that was most favorable to us than other's proposal. He is knowledgeable, professional, courteous, responsive and got the job done quickly. He completely looked after our best interest and delivered results as he had promised from the initial consultation.
S.P.
Manager, Employer Contracts
HNCA
When my husband became permanently disabled and unable to work any longer we were devastated. We had bills, like every American does, that were not going to be able to be paid with the loss of income. When I found out that I was going to be laid off from my job we didn't know what we were going to do. After speaking to an attorney locally I was very discouraged and didn't think we were going to have any hope at all with our bills. I then looked online and found Michael Raichelson. My husband and I went to speak with him and boy did he put our mind at ease. We left his office feeling that there was hope and a way out. He was the biggest help in making us feel assured that all was going to be okay. The process was fast and painless and I believe this was due to the professionalism and good work of Michael and his firm. We were blessed to have found Michael and even further blessed to get the help we needed.
K and J
To Whom it May Concern:
As clients of Michael H. Raichelson, my wife and I are extremely pleased to recommend his services.
When we first met Michael, our situation was pretty grim. Health problems, unemployment, and a drastic drop in the value of our house had turned our lives upside down. We just couldn't pay our bills.
Credit counseling and our research on the internet made it clear that bankruptcy was inevitable. What wasn't clear was what bankruptcy would mean for us. We felt like we were being pushed over the edge and would lose everything. Fortunately, that's when we were referred to Michael.
Michael understood what we were going through. Due to his experience with the court where we had to file and his knowledge of current, real-world conditions with creditors and banks, he was able to explain exactly what would happen and when. After our first meeting, we felt like a tremendous physical weight had been lifted from our shoulders. We felt like we were in control of our lives again.
Today, everything has unfolded just as Michael had told us it would. We are debt free and enjoying a fresh start. We strongly urge anyone faced with bankruptcy to have Michael help them as he has helped us.
Sincerely,
R.F.D

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The Law Offices of Michael H. Raichelson
6400 Canoga Avenue
Suite 352
Woodland Hills, CA 91367
Phone: 818-921-7306
Toll Free: 888-367-5012
Fax: 818-444-7776
Woodland Hills Law Office

The Law Offices of Michael H. Raichelson
1000 Town Center Dr.
Suite 300
Oxnard, CA 93036
Oxnard Law Office

SuperLawyers NACBA National Association of Consumer Bankruptcy Attorneys

The Law Offices of Michael H. Raichelson in Woodland Hills, California, serves bankruptcy clients in the San Fernando Valley (The Valley) region of Southern California, including Los Angeles, Burbank, Glendale, San Fernando, Hidden Hills, Calabasas, Encino, Sherman Oaks, Van Nuys, Ventura, Simi Valley, West Hills, Oak Park and Agoura Hills. We serve all communities in Los Angeles County and Ventura County.