Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Lynden WA?
If you are facing a foreclosure on your home in Lynden, 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 huge monetary obligation and financial screw up that is just intensified by your home loan 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 Lynden 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
Lynden 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 Lynden 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 homeowner were dealing with foreclosure. That number has actually tripled in size. This property collapse incorporated with financial problems and countless property owners being "upside down" or "underwater" in their houses has actually triggered a real estate crisis in the United States.
Americans are relying on filing Chapter 13 bankruptcy in order to stop an impending foreclosure sale. The original function of Chapter 13 bankruptcy was to allow an individual who was facing financial mess up to place all of their monetary responsibility into one huge amount which would then be reorganized and paid off one month at a time over a 3 to 5 year period.
In general, a Chapter 13 bankruptcy needs more than just a home being "underwater" for a court to rule in your favor. If your revenues is adequate for making your home loan payments and you have no authentic notable monetary obligation, then you most likely will not get authorized 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 loan and behind on your payments is normally not enough to certify.
If your financial scenario is for a little while in disorder because of unanticipated expenses, medical emergencies, significant cars and truck repair work, etc., notifying your loan service provider is important. It is really possible that the loan supplier might utilize a short-term deferment of your payments or provide 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 genuine specialist in Lynden Bankruptcy-- can use you the ideas and representation you require when facing such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in Lynden WA
When you send 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 creditors 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 three to 4 months. Especially when you live in Lynden Washington or in a nearby city
Nevertheless, there are 2 exceptions to this basic standard:
Motion to raise the stay: If the loan provider acquires the bankruptcy court's approval to proceed with the sale (by submitting a "movement to raise the stay"), you may not get the complete 3 to four months. However even then, the bankruptcy will generally hold off the sale by a minimum of two months, and even more if the loan provider is sluggish in pursuing the motion to raise the automated stay.
Foreclosure notification currently submitted: Sadly, bankruptcy's automated stay won't stop the clock on the advance notification that a great deal of states require prior to a foreclosure sale can be held (or a movement to raise the stay can be submitted). For instance, prior to selling a home in California, a loan provider has to offer the owner a minimum of 3 months' alert. If you get a three-month notice of default, and after that declare bankruptcy after two months have really passed, the three-month duration will elapse after you have actually remained in bankruptcy for only one month. At that time the loan service provider could file a movement to lift the stay and ask the court for authorization to arrange to stop the foreclosure sale. This does not suggest the loan company's motion would be provided, but it is best to have a competent legal representative in your corner in an effort to prevent that from taking place.
Many people will do whatever they can to remain in their house for the indefinite future. If that describes you, and you're behind on your mortgage payments without any possible approach to acquire existing, the only method to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the "arrange" (late past due payments) over the length of a payment plan you propose-- 5 years sometimes. Nevertheless you'll require sufficient earnings to at least meet 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 payment plan, you'll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 might likewise help you eliminate 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 dropped in worth), you might not have any equity with which to secure the later mortgages. That allows the Chapter 13 court to "eliminate off" the 2nd and 3rd home mortgages 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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