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Emergency Bankruptcy Filings Lancaster CA

Do You Need to Stop Foreclosure in Lancaster CA?

stop_foreclosureIf you are facing a foreclosure on your home in Lancaster, 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 enormous financial responsibility and monetary ruin that is simply intensified 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 Lancaster CA

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

Lancaster 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 Lancaster CA and the surrounding areas.

More About Stop Foreclosure

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 dealing with foreclosure. That number has tripled in size. This realty collapse incorporated with economic troubles and many property owners being “upside down” or “undersea” in their houses has actually triggered a property crisis in the United States.

Americans are turning to filing Chapter 13 bankruptcy in order to stop an impending foreclosure sale. The original function of Chapter 13 bankruptcy was to allow a person who was dealing with monetary destroy to put all of their monetary obligation 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 house being “undersea” for a court to rule in your favor. If your revenues is adequate for making your home loan payments and you have no authentic noteworthy monetary responsibility, then you more than likely will not get approved for a Chapter 13 bankruptcy. Obviously, your circumstances might be various or there might be other conditions that utilize. But simply being “underwater” by your mortgage and behind on your payments is typically inadequate to certify.

If your monetary circumstance is briefly in disorder because of unanticipated costs, medical emergency situations, significant cars and truck repair work, etc., alerting your loan service provider is essential. It is very possible that the loan supplier might utilize a short-term deferment of your payments or supply you with re-payment terms which permit you to briefly decrease your payments owed in return for an extension of your home mortgage. Calling an experienced, well-informed attorney– a real specialist in Lancaster Bankruptcy– can use you the ideas and representation you require when dealing with such a scenario.

Stop Foreclosure with a Bankruptcy Lawyer in Lancaster CA

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 “automated stay.” The automated stay directs your financial institutions to stop their collection activities instantly. No excuses. If your home is scheduled a foreclosure sale, the sale will be lawfully delayed while the bankruptcy is pending– typically for 3 to 4 months. Especially when you live in Lancaster California or in a nearby city

Nonetheless, there are 2 exceptions to this basic standard:

Motion to raise the stay: If the loan supplier gets 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 four months. However even then, the bankruptcy will generally hold back the sale by a minimum of two months, and even more if the loan provider is sluggish in pursuing the motion to lift the automated stay.
Foreclosure alert currently submitted: Sadly, bankruptcy’s automatic stay will not stop the clock on the advance alert 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 instance, prior to selling a home in California, a loan supplier needs to offer the owner a minimum of 3 months’ alert. If you get a three-month notification of default, then declare bankruptcy after two months have really passed, the three-month duration will expire after you have actually stayed in bankruptcy for only one month. At that time the loan supplier could file a movement to raise the stay and ask the court for approval to set up to stop the foreclosure sale. This does not suggest the loan company’s movement would be given, but it is best to have a proficient lawyer in your corner in an effort to prevent that from occurring.

Many people will do whatever they can to stay in their house for the indefinite future. If that explains you, and you’re behind on your home loan payments without any feasible technique to obtain present, the only method 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– five years sometimes. Nevertheless you’ll require sufficient earnings to at least satisfy your existing home mortgage payment at the same time you’re settling the arrange. Assuming you make all the required payments up to completion of the payment strategy, you’ll prevent foreclosure and keep your house.

2nd and 3rd home mortgage payments:

Chapter 13 might also assist you eliminate the payments on your 2nd or 3rd home mortgage. That’s because, if your very first home mortgage is secured by the entire worth of your home (which is possible if the home has dropped in value), you may no longer have any equity with which to protect the later home mortgages. That permits the Chapter 13 court to “remove off” the 2nd and 3rd home mortgages 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 California and throughout the region and remember, the time to do something is now.

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