Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Burien WA?
If you are facing a foreclosure on your home in Burien, you need to call The Bankruptcy Experts ASAP. We can make sure that the foreclosure is postponed right away and give you the time you need. Stopping all creditors in their tracks. If you are facing enormous monetary obligation and financial screw up that is just aggravated by your mortgage payments, then you have to call us.
It’s time to consider bankruptcy if your life has been taken over by looming foreclosure, constant badgering phone calls from creditors, lawsuits or garnishments of your wages or property. Or maybe your debt has you trapped due to the amount of each payment and the extent of the debt. There are many kinds of debt that can get you into these situations, including medical bills, credit card balances, falling behind on your mortgage, loans and back taxes owed to the government and even car repossessions.
Bankruptcy Attorney to Stop Foreclosure Near Me in Burien WA
Experienced, professional bankruptcy attorneys, understand the difficulties and worries you face. We know your best options. We are here to help and will work with you to alleviate your financial uncertainty. Even before your bankruptcy petition is filed, an attorney can help shield you from creditor harassment. In a non-judgmental and supportive way, we can help you understand your options, the process of filing for bankruptcy, and help lift the burden of financial uncertainty.
Free Bankruptcy Consultation – Call Now (855) 997-4655
Burien Bankruptcy Attorney, The Bankruptcy Experts, are dedicated BK Lawyers with over 10 years experience in dealing with the complex issues concerning bankruptcy. We have the skills and expertise to handle any type of bankruptcy problems you might be experiencing. We proudly offer our services to businesses and individuals throughout Burien WA and the surrounding areas.
You may feel hopeless, and at the mercy of a faltering economy, but don’t despair. Relief is available, and there is no shame in using the law to protect yourself when you are buried under a pile of debt. You aren’t responsible for the economy, and you didn’t create the mortgage crisis. So use the law to protect yourself and your family.
A Second Chance
Bankruptcy laws are in place to help Americans get a second chance when they are snowed under by economic pressures. You have rights, including the right to be free from harassment by creditors. If your creditors are hounding you, you can make them pay. And if your debt has become more than you can manage, you may be able to file for bankruptcy.
Foreclosures have really been on the increase since 2008. From 2007 to 2009 around 3 million property owners were dealing with foreclosure. That number has actually tripled in size. This real estate collapse incorporated with economic troubles and many property owners being "upside down" or "underwater" in their houses has caused a real estate crisis in the United States.
Americans are turning to filing Chapter 13 bankruptcy in order to stop an upcoming foreclosure sale. The original purpose of Chapter 13 bankruptcy was to allow an individual who was facing monetary mess up to position all their monetary commitment into one big quantity which would then be restructured and settled one month at a time over a 3 to 5 year period.
In general, a Chapter 13 bankruptcy needs more than simply a house being "underwater" for a court to rule in your favor. If your revenues is adequate for making your mortgage payments and you have no real noteworthy financial commitment, then you most likely will not get authorized for a Chapter 13 bankruptcy. Obviously, your circumstances might be various or there might be other conditions that utilize. But simply being "undersea" by your mortgage and behind on your payments is generally inadequate to certify.
If your monetary circumstance is momentarily in disorder because of unexpected expenses, medical emergencies, significant cars and truck repairs, etc., notifying your loan provider is important. It is very possible that the loan provider may use a short-term deferment of your payments or supply you with re-payment terms which allow you to briefly reduce your payments owed in return for an extension of your home loan. Getting in touch with a proficient, educated legal representative-- a real specialist in Burien Bankruptcy-- can offer you the ideas and representation you need when facing such a situation.
Stop Foreclosure with a Bankruptcy Lawyer in Burien WA
When you send either a Chapter 13 or Chapter 7 bankruptcy, the court instantly provides an order (called the order for relief) that includes an "automatic stay." The automatic stay directs your creditors to stop their collection activities instantly. No excuses. If your home is arranged for a foreclosure sale, the sale will be legally postponed while the bankruptcy is pending-- normally for 3 to four months. Especially when you live in Burien Washington or in a nearby city
Nevertheless, there are 2 exceptions to this general guideline:
Motion to raise the stay: If the loan service provider obtains the bankruptcy court's approval to proceed with the sale (by submitting a "movement to raise the stay"), you may not get the full 3 to four months. However even then, the bankruptcy will usually hold off the sale by a minimum of two months, as well as more if the loan provider is sluggish in pursuing the movement to raise the automated stay.
Foreclosure alert already filed: Sadly, bankruptcy's automatic stay will not stop the clock on the advance notification that a lot of states need prior to a foreclosure sale can be held (or a movement to raise the stay can be sent). For example, prior to selling a home in California, a loan supplier needs to offer the owner a minimum of 3 months' notice. If you get a three-month notification of default, and then file for bankruptcy after 2 months have in fact passed, the three-month duration will elapse after you have actually remained in bankruptcy for only one month. At that time the loan company could file a movement to lift the stay and ask the court for approval to set up to stop the foreclosure sale. This does not recommend the loan provider's motion would be given, however it is best to have a knowledgeable attorney in your corner in an effort to prevent that from occurring.
Lots of people will do whatever they can to stay in their house for the indefinite future. If that discusses you, and you're behind on your mortgage payments with no feasible method to get current, the only technique to keep your home might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you pay off the "arrange" (late past due payments) over the length of a payment plan you propose-- 5 years sometimes. Nevertheless you'll need enough earnings to a minimum of meet your existing home mortgage payment at the same time you're settling the balance due. Presuming you make all the required payments up to completion of the repayment plan, you'll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 may similarly assist you remove the payments on your 2nd or 3rd home mortgage. That's because, if your first home mortgage is secured by the whole worth of your home (which is possible if the home has dropped in worth), you might not have any equity with which to protect the later home mortgages. That allows the Chapter 13 court to "remove off" the 2nd and 3rd mortgages and re-categorize them as unsecured debt-- which, under Chapter 13, takes last issue and regularly does not have to be repaid at all. All of this is common in Washington and throughout the region and remember, the time to do something is now.
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