Getting Rid of a Judicial Lien Attached to Your Property in a St. Louis Bankruptcy

When you fall behind on a debt, one of the remedies available to the creditor is to sue based on a breach of contract. And if the creditor prevails on the suit, it will be given the opportunity to do one of three main things: 1) garnish your wages, 2) levy your bank account, or 3) place a lien against your property.

When a lien is attached to your property in this manner, it takes on the character of a mortgage. In other words, if you try to sell your home, the lien will have to be satisfied in full along with any other encumbrances (like a first or second mortgage). This can have a negative effect on your ability to sell the home to a potential buyer.

It is, however, possible to get rid of a lien placed against the property when you file a Missouri bankruptcy. Whether it is a St. Louis Chapter 7 bankruptcy or a St. Louis Chapter 13 bankruptcy, judicial liens can be stripped off the house by way of an adversary proceeding filed by your attorney. This removes the lien altogether (which can sometimes be thousands of dollars), and frees the home from that particular encumbrance.

The affordable St. Louis bankruptcy lawyers at The Bankruptcy Company have been making sure that each client’s interests are fully met for years. Our goal is to make you aware of your rights, present you with all your options, and get on the path towards financial freedom.