Alessandro v. People's Bank (In re Alessandro)

MEMORANDUM AND ORDER ON DEBTOR’S MOTION TO AVOID LIENS IMPAIRING EXEMPTION

ALAN H. W. SHIFF, Chief Judge.

The issue here is whether the debtor may invoke Connecticut’s homestead exemption to avoid a judgement lien that emanated from an unsecured revolving personal line of credit.1

BACKGROUND

The debtor owned a single family residence in Bridgeport, Connecticut. On February 6, 1976, he signed an agreement with People’s Bank to receive a $5,000 unsecured revolving line of credit that could be terminated by People’s at will, i.e., in the absence of default by the debtor. See People’s Bank Personal…