Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Everett WA?
If you are facing a foreclosure on your home in Everett, 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 huge financial commitment and financial mess up that is simply intensified by your home 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 Everett 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
Everett 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 Everett 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 in fact 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 property collapse incorporated with financial troubles and many homeowner being "upside down" or "underwater" in their homes has actually triggered a real estate crisis in the United States.
Americans are relying on submitting Chapter 13 bankruptcy in order to stop an upcoming foreclosure sale. The initial function of Chapter 13 bankruptcy was to enable a person who was dealing with financial ruin to put all of their financial responsibility into one big amount which would then be rearranged and paid off one month at a time over a 3 to 5 year duration.
In general, a Chapter 13 bankruptcy needs more than just a house being "underwater" for a court to rule in your favor. If your earnings is adequate for making your home mortgage payments and you have no authentic notable monetary commitment, then you probably will not get approved for a Chapter 13 bankruptcy. Obviously, your circumstances might be different or there might be other conditions that use. But simply being "undersea" by your mortgage and behind on your payments is usually not enough to qualify.
If your financial scenario is briefly in disorder because of unanticipated costs, medical emergency situations, major automobile repair work, etc., notifying your loan service provider is essential. It is extremely possible that the loan company 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 mortgage. Contacting a competent, well-informed attorney-- a real expert in Everett Bankruptcy-- can provide you the suggestions and representation you need when dealing with such a scenario.
Stop Foreclosure with a Bankruptcy Lawyer in Everett WA
When you submit either a Chapter 13 or Chapter 7 bankruptcy, the court immediately provides an order (called the order for relief) that consists of an "automated stay." The automatic stay directs your financial institutions to stop their collection activities immediately. No reasons. If your home is scheduled a foreclosure sale, the sale will be legally delayed while the bankruptcy is pending-- generally for 3 to four months. Especially when you live in Everett Washington or in a nearby city
Nevertheless, there are 2 exceptions to this general standard:
Motion to raise the stay: If the loan provider obtains the bankruptcy court's approval to proceed with the sale (by filing a "movement to raise the stay"), you might not get the complete 3 to 4 months. But even then, the bankruptcy will usually hold back the sale by a minimum of two months, and even more if the lending institution is slow in pursuing the movement to lift the automated stay.
Foreclosure notification currently filed: Sadly, bankruptcy's automated stay won't stop the clock on the advance alert that a lot of states require prior to a foreclosure sale can be held (or a motion to raise the stay can be submitted). For instance, prior to offering a home in California, a loan supplier needs to give the owner a minimum of 3 months' alert. If you get a three-month notice of default, and then apply for bankruptcy after 2 months have really passed, the three-month duration will expire after you have actually remained in bankruptcy for only one month. At that time the loan provider could file a movement to lift the stay and ask the court for authorization to organize to stop the foreclosure sale. This does not suggest the loan provider's movement would be given, however it is best to have a skilled attorney in your corner in an effort to prevent that from taking place.
Many people will do whatever they can to remain in their home for the indefinite future. If that discusses you, and you're behind on your mortgage payments with no possible approach to acquire present, the only method to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you pay off the "arrange" (late overdue payments) over the length of a payment plan you propose-- 5 years often. However you'll need enough income to at least meet your existing home mortgage payment at the same time you're settling the arrange. Assuming you make all the required payments approximately completion of the payment strategy, you'll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 might similarly assist you get rid of the payments on your 2nd or 3rd home mortgage. That's because, if your very first home mortgage is secured by the whole worth of your home (which is possible if the home has actually dropped in value), you may no longer have any equity with which to secure the later mortgages. That permits the Chapter 13 court to "remove off" the 2nd and 3rd home loans and re-categorize them as unsecured financial obligation-- which, under Chapter 13, takes last concern and often does not need 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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