Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Redmond WA?
If you are facing a foreclosure on your home in Redmond, 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 screw up that is simply 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 Redmond 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
Redmond 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 Redmond 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 actually tripled in size. This property collapse incorporated with financial troubles and numerous homeowner being "upside down" or "undersea" in their houses has triggered a realty 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 make it possible for an individual who was facing monetary destroy to put 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 period.
In general, a Chapter 13 bankruptcy needs more than simply a home being "undersea" for a court to rule in your favor. If your revenues is adequate for making your home mortgage payments and you have no genuine noteworthy financial obligation, then you most likely will not get authorized for a Chapter 13 bankruptcy. Of course, your circumstances might be various or there might be other conditions that utilize. But merely being "undersea" by your mortgage and behind on your payments is usually not enough to qualify.
If your monetary situation is momentarily in disorder because of unanticipated expenses, medical emergencies, significant car repairs, etc., notifying your loan company is essential. It is very possible that the loan company might utilize a short-term deferment of your payments or provide you with re-payment terms which enable you to briefly minimize your payments owed in return for an extension of your mortgage. Calling a knowledgeable, knowledgeable lawyer-- a genuine specialist in Redmond Bankruptcy-- can use you the recommendations and representation you require when dealing with such a circumstance.
Stop Foreclosure with a Bankruptcy Lawyer in Redmond WA
When you send either a Chapter 13 or Chapter 7 bankruptcy, the court automatically issues an order (called the order for relief) that consists of an "automatic stay." The automated stay directs your creditors to stop their collection activities right away. No reasons. If your home is scheduled a foreclosure sale, the sale will be legally postponed while the bankruptcy is pending-- normally for three to 4 months. Especially when you live in Redmond Washington or in a nearby city
Nonetheless, there are 2 exceptions to this general standard:
Motion to raise the stay: If the loan provider acquires the bankruptcy court's approval to proceed with the sale (by submitting a "motion to raise the stay"), you may not get the full 3 to 4 months. However even then, the bankruptcy will typically hold off the sale by a minimum of two months, and even more if the lending institution is sluggish in pursuing the motion to raise the automated stay.
Foreclosure alert already submitted: Sadly, bankruptcy's automatic stay won't stop the clock on the advance notice that a great deal of states need prior to a foreclosure sale can be held (or a movement to raise the stay can be submitted). For example, 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 after that apply for bankruptcy after 2 months have actually passed, the three-month period will expire after you have actually remained in bankruptcy for only one month. At that time the loan provider could file a motion to lift the stay and ask the court for approval to arrange to stop the foreclosure sale. This does not recommend the loan provider's movement would be given, but it is best to have a competent lawyer in your corner in an effort to prevent that from taking place.
Many individuals will do whatever they can to remain in their house for the indefinite future. If that discusses you, and you're behind on your home mortgage payments with no practical technique to get current, the only technique to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you settle the "arrange" (late overdue payments) over the length of a payment plan you propose-- 5 years often. Nevertheless you'll require enough earnings to at least satisfy your current 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 payment strategy, you'll avoid foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 may also help you remove 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 value), you might not have any equity with which to secure the later home mortgages. That permits the Chapter 13 court to "eliminate off" the 2nd and 3rd mortgages and re-categorize them as unsecured financial obligation-- which, under Chapter 13, takes last issue and regularly does not need to be paid back 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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