Stop Foreclosure - Emergency Bankruptcy Filings
Do You Need to Stop Foreclosure in Seattle WA?
If you are facing a foreclosure on your home in Seattle, 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 financial obligation and financial screw up that is just worsened 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 Seattle 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
Seattle 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 Seattle 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 in fact been on the increase since 2008. From 2007 to 2009 around 3 million property owners were dealing with foreclosure. That number has actually tripled in size. This realty collapse integrated with financial problems and countless property owners being "upside down" or "underwater" in their houses has actually caused a real estate crisis in the United States.
Americans are turning to filing Chapter 13 bankruptcy in order to stop an approaching 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 commitment 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 simply a house being "underwater" 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 commitment, then you probably will not get authorized 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 generally insufficient to certify.
If your financial circumstance is for a short while in disorder because of unanticipated expenses, medical emergencies, significant car repair work, etc., informing your loan provider is essential. It is very possible that the loan service 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. Calling an experienced, knowledgeable lawyer-- a genuine professional in Seattle Bankruptcy-- can provide you the recommendations and representation you require when facing such a situation.
Stop Foreclosure with a Bankruptcy Lawyer in Seattle WA
When you submit either a Chapter 13 or Chapter 7 bankruptcy, the court automatically issues an order (called the order for relief) that consists of an "automated 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 Seattle 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 acquires the bankruptcy court's approval to proceed with the sale (by submitting a "movement to raise the stay"), you might not get the full 3 to 4 months. But even then, the bankruptcy will generally hold back the sale by a minimum of 2 months, and even more if the lending institution is sluggish in pursuing the movement to raise the automated stay.
Foreclosure notification currently filed: Sadly, bankruptcy's automated stay will not stop the clock on the advance notification that a great deal of states need prior to a foreclosure sale can be held (or a motion to raise the stay can be submitted). For example, prior to offering a home in California, a loan service provider has to give the owner a minimum of 3 months' alert. If you get a three-month notification of default, and after that file for bankruptcy after 2 months have actually passed, the three-month period will elapse after you have actually remained in bankruptcy for only one month. At that time the loan provider could file a motion to raise the stay and ask the court for permission to arrange to stop the foreclosure sale. This does not suggest the loan service provider's motion would be offered, but it is best to have a skilled 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 describes you, and you're behind on your mortgage payments without any possible method to get 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 overdue payments) over the length of a payment plan you propose-- five years sometimes. Nevertheless you'll require enough income to a minimum of meet your present home mortgage payment at the same time you're settling the arrange. 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 similarly help you get rid of the payments on your 2nd or 3rd home mortgage. That's because, if your first home mortgage is secured by the entire worth of your home (which is possible if the home has actually dropped in worth), you might not 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 concern and frequently 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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