Legal Question in Bankruptcy in California

I have a lien on a property and they are now going for Bankruptcy, Chapter 13. They have a motion to Avoid Junior Lien on Principal Residence. This basically means they are trying get rid of my Lien. I have been advised that I have only three days left to file some kind of motion of my own to stop this? I am not sure what to do now at all? I have no money to hire a lawyer and it is Friday and it must be done before Monday. What can I do? What paperwork do I need and exactly what should I do? I am out of time from what I've been told.


Asked on 4/29/11, 11:18 am

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

In general, either you can afford a lawyer or you can afford to lose the case. However, if there's no equity securing your lien, if the property's value is less than the senior lien, they'll be able to wipe-out your lien in the Chapter 13. The issue is the valuation of the property. They presumably have gotten their property appraised, if you think their appraisal is wrong and there is some equity securing your lien, then you could dispute their appraisal and submit your own appraisal showing the property's value is higher than their appraisal. But, again, there's no free lunch; and you won't be able to contest their motion without a lawyer and probably an appraiser.

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Answered on 4/29/11, 11:39 am


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