Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Kenmore WA?
If you are facing a foreclosure on your home in Kenmore, 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 monetary obligation and financial mess up that is simply intensified by your home mortgage payments, then you need 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 Kenmore 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
Kenmore 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 Kenmore 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 actually been on the increase since 2008. From 2007 to 2009 around 3 million homeowner were handling foreclosure. That number has tripled in size. This property collapse integrated with financial troubles and countless property owners being "upside down" or "undersea" in their homes has actually caused a real estate crisis in the United States.
Americans are turning to filing Chapter 13 bankruptcy in order to stop an impending foreclosure sale. The original purpose of Chapter 13 bankruptcy was to enable a person who was facing financial ruin to position all their financial commitment into one big quantity which would then be restructured and settled one month at a time over a 3 to 5 year duration.
In general, a Chapter 13 bankruptcy requires more than simply a home being "undersea" for a court to rule in your favor. If your profits is adequate for making your home mortgage payments and you have no genuine noteworthy monetary obligation, then you more than likely will not get approved for a Chapter 13 bankruptcy. Of course, your circumstances might be different or there might be other conditions that utilize. But merely being "undersea" by your mortgage loan and behind on your payments is typically insufficient to qualify.
If your monetary situation is briefly in disorder because of unanticipated costs, medical emergencies, significant cars and truck repair work, etc., informing your loan company is important. It is very possible that the loan provider might utilize a short-term deferment of your payments or supply you with re-payment terms which permit you to briefly lessen your payments owed in return for an extension of your home mortgage. Contacting an experienced, well-informed attorney-- a real specialist in Kenmore Bankruptcy-- can use you the ideas and representation you need when facing such a scenario.
Stop Foreclosure with a Bankruptcy Lawyer in Kenmore WA
When you submit either a Chapter 13 or Chapter 7 bankruptcy, the court immediately releases an order (called the order for relief) that includes an "automated stay." The automatic stay directs your creditors to stop their collection activities instantly. No reasons. If your home is scheduled a foreclosure sale, the sale will be lawfully delayed while the bankruptcy is pending-- typically for 3 to four months. Especially when you live in Kenmore Washington or in a nearby city
Nonetheless, there are 2 exceptions to this general standard:
Motion to raise the stay: If the loan service provider obtains the bankruptcy court's approval to proceed with the sale (by filing a "motion to raise the stay"), you may not get the complete 3 to four months. However even then, the bankruptcy will typically hold back the sale by a minimum of 2 months, as well as more if the lending institution is slow in pursuing the motion to raise the automated stay.
Foreclosure alert currently filed: Sadly, bankruptcy's automated stay won't stop the clock on the advance alert that a lot of states need prior to a foreclosure sale can be held (or a motion to lift the stay can be sent). For instance, prior to offering a home in California, a loan company has to give the owner a minimum of 3 months' notice. If you get a three-month notification of default, and then declare bankruptcy after two months have actually passed, the three-month duration will expire after you have 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 permission to organize to stop the foreclosure sale. This does not recommend the loan provider's movement would be provided, however it is best to have an experienced lawyer in your corner in an effort to prevent that from taking place.
Many individuals will do whatever they can to stay in their home for the indefinite future. If that discusses you, and you're behind on your home mortgage payments with no feasible approach to obtain current, the only technique to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the "balance due" (late overdue payments) over the length of a payment plan you propose-- five years often. Nevertheless you'll need adequate income to at least satisfy your current home mortgage payment at the same time you're settling the balance due. Assuming you make all the required payments approximately the end of the repayment strategy, you'll avoid foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 might also assist you get rid of the payments on your 2nd or 3rd home mortgage. That's because, if your first home mortgage is protected by the whole worth of your home (which is possible if the home has actually dropped in value), you may 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 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.
Map of Kenmore WA
The Bankruptcy Experts
Monday - Friday: 8:00am - 6:00pm
Saturday: 10:00am - 4:00pm