Skip to main content
(678) 915-2634 Contact Us
Bankruptcy lien stripping may sound good, but leave you exposed Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Bankruptcy lien stripping may sound good, but leave you exposed

Ira and Jamie Gingold Bankruptcy Attorneys in Atlanta GA

The recession may be over and home values rebounding in Atlanta and much of the rest of the country. But in the depths of the recent economic distress there were many who found themselves holding onto treasured homes that were no longer worth the paper their mortgages were written on.

Many may still be in such circumstances and where the anxiety of being underwater on your mortgage and the risk of foreclosure exists, a lot of operations stand ready with offers of help that sound good — perhaps too good. Among the siren songs may be those proffering the value of stripping off second mortgage lender liens against your home through bankruptcy.

Such strategies can work, but the circumstances have to be right and unless the people you are working with have depth of knowledge and experience, the lien-stripping process can prove to be more complicated than you know. This is why it’s so important to consult with an attorney with depth of experience.

The claims about lien stripping rest in the possibility that, when you file for bankruptcy protection, your second mortgage or home equity line of credit might be eligible to be declared unsecured debt. Whether you file for Chapter 7 or Chapter 13, that designation means you can potentially see the debt discharged and the lien erased.

The caveat is that you have to be able to prove that your home’s value is worth less than what is owed on the first mortgage. With the economy rebounding, that may not be easy.

Before you make any decisions about debt relief and how to achieve it, it’s important to get a clear picture of all your options. We offer free initial consultations and invite you to visit our Chapter 13 and Chapter 7 comparison. See what the differences are and then consider contacting us. We offer free consultations at many locations.

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


First Free

    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review