Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Kent WA?
If you are facing a foreclosure on your home in Kent, 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 dealing with massive monetary obligation and monetary ruin that is simply worsened by your 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 Kent 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
Kent 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 Kent 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 tripled in size. This realty collapse integrated with economic difficulties and many homeowner being "upside down" or "undersea" in their homes has caused a real estate crisis in the United States.
Americans are turning to submitting Chapter 13 bankruptcy in order to stop an approaching foreclosure sale. The original function of Chapter 13 bankruptcy was to allow a person who was facing financial destroy to position all their financial responsibility into one huge quantity which would then be rearranged 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 earnings is adequate for making your home loan payments and you have no real notable monetary responsibility, then you most likely will not get approved for a Chapter 13 bankruptcy. Naturally, your situations might be different or there might be other conditions that utilize. But simply being "underwater" by your home loan and behind on your payments is normally not enough to qualify.
If your monetary circumstance is for a short while in disorder because of unexpected expenses, medical emergencies, major car repairs, and so on, informing your loan supplier is important. It is extremely possible that the loan provider might use a short-term deferment of your payments or supply you with re-payment terms which allow you to briefly minimize your payments owed in return for an extension of your home loan. Calling a competent, well-informed lawyer-- a real expert in Kent Bankruptcy-- can use you the suggestions and representation you need when dealing with such a situation.
Stop Foreclosure with a Bankruptcy Lawyer in Kent 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 lenders to stop their collection activities right away. No reasons. If your home is arranged for a foreclosure sale, the sale will be legally delayed while the bankruptcy is pending-- typically for 3 to 4 months. Especially when you live in Kent Washington or in a nearby city
However, there are 2 exceptions to this basic guideline:
Motion to raise the stay: If the loan company acquires the bankruptcy court's approval to proceed with the sale (by submitting a "movement to raise the stay"), you might not get the complete 3 to 4 months. However even then, the bankruptcy will generally hold back the sale by a minimum of two months, as well as more if the lending institution is sluggish in pursuing the movement to lift the automated stay.
Foreclosure alert currently submitted: Sadly, bankruptcy's automated stay will not 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 example, prior to selling a home in California, a loan service provider needs to give the owner a minimum of 3 months' alert. If you get a three-month notification of default, then file for bankruptcy after 2 months have actually passed, the three-month duration will expire after you have actually stayed in bankruptcy for only one month. At that time the loan provider might file a movement to raise the stay and ask the court for authorization to set up to stop the foreclosure sale. This does not recommend the loan service provider's motion would be given, however it is best to have a skilled attorney in your corner in an effort to prevent that from happening.
Lots of people will do whatever they can to stay in their home for the indefinite future. If that describes you, and you're behind on your home loan payments without any possible approach to acquire present, 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-- 5 years in some cases. However you'll require adequate income to at least fulfill your existing home mortgage payment at the same time you're settling the arrange. Assuming you make all the needed payments approximately completion of the repayment strategy, you'll avoid foreclosure and keep your house.
2nd and 3rd home mortgage payments:
Chapter 13 may likewise help you remove the payments on your second 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 might no longer have any equity with which to protect the later home loans. That permits the Chapter 13 court to "get rid of off" the 2nd and 3rd home loans and re-categorize them as unsecured financial obligation-- which, under Chapter 13, takes last issue and regularly 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 Kent WA
The Bankruptcy Experts
Monday - Friday: 8:00am - 6:00pm
Saturday: 10:00am - 4:00pm