Legal Question in Bankruptcy in California

What's the difference between "bifurcation" and "strip-down" of undersecured claims? And the implication of Dewsnup under Chapter 7?


Asked on 4/21/11, 9:10 am

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

Dewsnup, Timm, etc. are cases that are typically used in Chapter 13-related adversary proceedings to "strip off" a totally unsecured 2nd or 3rd mortgage. As I understand it you can't "strip down" an undersecured lien. As I understand it also, this remedy is not available in Chapter 7. But I could well be wrong, and if your matter involves this very complicated area of bankruptcy law you will need to consult with an experienced bankruptcy lawyer in your locality.

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Answered on 4/21/11, 9:23 am


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