Debt limits on Chapter 13: my question answered

[ColoradoBell]

I mostly ASK questions here, but in this case I just read an opinion (for Colorado) about a question I asked a few weeks ago that answers my question.

I wanted to know what happened if you avoided liens and when the secured lien became unsecured...if it counted towards your unsecured debt limit.

Colorado 02-28453 In re Stairs indicates that the debt is counted as secured or unsecured as of the date of filing. (good news for me re avoiding my secured liens and not ending up going over the unsecured limit)

Don't know if this applies to anyone, but thought I'd post, just in case!

[HHM]

Just realize that the "02" prefix in the case number means it is from 2002. It may still be good law, but I know that for purposes of a 2nd mortgage lien strip, the strip gets counted as unsecured debt.

[ColoradoBell]

Thanks for adding that HHM... I know one has to be careful in trying to interpret the case law. I'm hoping that it still applies to judgment liens although I'm not over the limit even so (close, but not over!)