Tag Archives: unsecured debts
Using Lien Stripping to Reduce Secured Debt in Chapter 13
In a Chapter 13 bankruptcy, unsecured debts are discharged after successful completion of a partial repayment plan. However, secured debts — those based on mortgages and other liens — remain in force. Fortunately, there is procedure called lien stripping that allows you to convert some mortgage debts to unsecured ones and thus to discharge them. […]
