Legal Question in Bankruptcy in California

Abstract of judgement

I found out after my Chpt 7 bankruptcy was dicharged over 1 year ago, that I have 2 abstracts of judgements in my name, recorded before I filed Chpt 7 Bankruptcy. I know that I can have the Case reopened, and have the lien avoidance motions done. My bankruptcy Petition had my home valued at $150,000, owing $85,000. My question is, Do I use the same home value of $150,000 on my bk petition, for the Lien avoidance motion? My bankruptcy was not contested in any way. The judgements total $16k. Or should I just consider settling with the Creditors even though debt is discharged, but the judgement liens survived. I know I should have hired an attorney initially to do the bankruptcy, but I could not afford one at the time. I have called around my area to find an attorney, but the attorneys I have talked to would only help if they had filed the Bankruptcy petition.

Thank you


Asked on 3/03/06, 4:52 pm

2 Answers from Attorneys
Mark Markus Law Office of Mark J. Markus

Re: Abstract of judgement

The relevant date is the date of the petition. I would be happy to assist, so if you are looking for legal counsel, please contact me to schedule an appointment.

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Answered on 3/03/06, 5:01 pm
Carl Starrett Law Offices of Carl H. Starrett II

Re: Abstract of judgement

I agree with Mr. Markus that the value used is the value as of the date of the petition. However, you can only file a petition for lien removal if the judgment lien interferes with your allowed homestead exemption.

You exemption might be $50,000, $75,000 or $100,000 depending on your age, marital status and other factors. You definitely should consult with a local bankruptcy attorney for further information.

I once represented a creditor with a judgment lien under similar circumstances. The debtor's attorney called me and offered to pay my client $400 to settle the lien. He further told me he would charge his client $450 to reopen the case and file the petition for lien removal and the petition would surely have been granted. My client took the money.

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Answered on 3/03/06, 5:09 pm


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