Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Renton WA?
If you are facing a foreclosure on your home in Renton, 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 enormous monetary commitment and monetary mess up that is just gotten worse by your home loan 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 Renton 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
Renton 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 Renton 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 tripled in size. This property collapse integrated with financial difficulties and countless homeowner being "upside down" or "undersea" 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 approaching foreclosure sale. The original function of Chapter 13 bankruptcy was to make it possible for a person who was facing monetary ruin to position all their monetary responsibility into one huge quantity which would then be reorganized and settled one month at a time over a 3 to 5 year period.
In general, a Chapter 13 bankruptcy requires more than simply a house being "underwater" for a court to rule in your favor. If your earnings is adequate for making your home loan payments and you have no real noteworthy monetary obligation, then you more than likely will not get authorized for a Chapter 13 bankruptcy. Of course, your situations might be different or there might be other conditions that use. However merely being "undersea" by your mortgage loan and behind on your payments is typically insufficient to qualify.
If your financial circumstance is for a short while in disorder because of unexpected expenses, medical emergencies, major cars and truck repair work, and so on, notifying your loan service provider is vital. It is really possible that the loan provider may utilize a short-term deferment of your payments or provide you with re-payment terms which permit you to briefly decrease your payments owed in return for an extension of your home mortgage. Calling a proficient, educated legal representative-- a real professional in Renton Bankruptcy-- can provide you the recommendations and representation you need when dealing with such a situation.
Stop Foreclosure with a Bankruptcy Lawyer in Renton WA
When you send either a Chapter 13 or Chapter 7 bankruptcy, the court automatically provides an order (called the order for relief) that includes an "automatic stay." The automated stay directs your financial institutions to stop their collection activities immediately. No excuses. If your home is scheduled a foreclosure sale, the sale will be legally delayed while the bankruptcy is pending-- usually for three to 4 months. Especially when you live in Renton Washington or in a nearby city
However, there are 2 exceptions to this general guideline:
Motion to raise the stay: If the loan service 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 normally hold back the sale by a minimum of 2 months, and even more if the loan provider is sluggish in pursuing the motion to lift the automated stay.
Foreclosure notification already 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 lift the stay can be submitted). For instance, prior to offering a home in California, a loan company needs to give the owner a minimum of 3 months' notification. If you get a three-month notification of default, and after that apply for bankruptcy after 2 months have in fact passed, the three-month period will expire after you have actually remained in bankruptcy for only one month. At that time the loan supplier could file a motion to raise the stay and ask the court for consent 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 knowledgeable 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 home for the indefinite future. If that explains you, and you're behind on your mortgage payments with no practical technique to obtain present, the only technique to keep your house might be to file a Chapter 13 bankruptcy. Chapter 13 bankruptcy lets you pay off the "arrange" (late past due payments) over the length of a payment plan you propose-- 5 years in some cases. However you'll require sufficient earnings to a minimum of meet your current home mortgage payment at the same time you're settling the arrange. Assuming you make all the needed payments as much as the end of the payment strategy, you'll prevent foreclosure and keep your home.
2nd and 3rd home mortgage payments:
Chapter 13 might similarly help you eliminate the payments on your 2nd or 3rd home mortgage. That's because, if your very first home mortgage is protected by the entire 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 protect the later home loans. That permits the Chapter 13 court to "eliminate 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 have 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 Renton WA
The Bankruptcy Experts
Monday - Friday: 8:00am - 6:00pm
Saturday: 10:00am - 4:00pm