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Facing Possible Foreclosure & Loss Of Your Home? You are not alone! Bankruptcy is a very useful method to stop foreclosure actions. One common reason for filing bankruptcy is to take advantage of the immediate "automatic stay" that is created as soon as a bankruptcy petition is filed. During the “automatic stay”, creditors can NOT continue their collection efforts or start any new actions against you. An automatic stay places an immediate stop on most collection efforts, including wage garnishments, repossessions and foreclosures. Wage assignment orders for child support are not affected as well as some tax collection efforts by governmental agencies. In a Chapter 13 bankruptcy the automatic stay will remain in effect unless the creditor brings an action to “lift” the stay, your case is dismissed or when you complete your Chapter 13 plan payments. If the court grants the creditor’s relief from the automatic stay, then the creditors may pursue and or resume collection activities, including the foreclosure actions. In a Chapter 13 bankruptcy, my goal is to develop a Chapter 13 plan to best fit your financial situation and a plan that will work for you. Have a plan not only to stop any foreclosure action but to discharge unsecured debts (sometimes just a few cents on the dollar). Chapter 13 also allows you to pay back what you owe in arrearages over 36 or 60 months period of time under the protection of the US Bankruptcy Court. |
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Facing Foreclosure & Loss Of Your Home? You are not alone!
No matter how often you hear about others going through the foreclosure of their home, the process itself makes you feel helpless. You know the inevitable is going to happen, you will lose your home. There is a better way. There is an option. Through filing bankruptcy with an effective plan, bankruptcy can save your home.
REASONS FOR GETTING BEHIND ON YOUR HOME LOAN PAYMENTS There are several reasons that contribute to not being able to pay your mortgage. Unfortunately, with the poor economic conditions, many people have lost their jobs. Perhaps a serious illness struck a loved one causing medical bills. Some may have experienced a divorce or separation causing financial difficulties. Oh yes, and credit card companies raised the minimum payments so high that it is impossible to keep current. If you can’t keep current, then they hit you again with increased interest and penalties. You just continue to go under water. For some it may not have been one major event but several events that when added together created the difficulty in making your home loan payments. The numerous complaints that I have heard regarding loan modifications have risen dramatically. Many of my clients tell me of similar hard times with companies offering these loans. Most indicated that after providing the documentation and numerous attempts that they did not have any success. Some companies even told them not to make payments so they could show a hardship. This inevitably led to the mortgage lender foreclosing on their homes. In the last couple of years the number of foreclosures and forced sales have increased substantially. These so called loan modification companies (also many debt relief companies) even promise to give your money back if they could not get the modification. But when reading the fine print and their the agreement the debtor signs, it makes it clear they will not. It’s very common they receive two to three thousand dollars up front and sometimes charge a monthly fee on top of that. Because they are great at selling their program, they convince the homeowner to stop making payments on their mortgage payments so they can show a hardship. It may sound logical but in reality but all this does is start the process of most likely losing their home. Several months past and no loan modification takes place. During this time the interest, late fees, and attorney fees start adding up. With each month that passes, the amount continues to increase. This ultimately puts most people into position of not being able to get caught up. Before long, the lenders start the foreclosure process, since the debtor has breached their home loan contract. The modification company tells the homeowner not too worry because that is normal and that is part of the plan to get the lender to agree to lower terms. After several more months of not getting any payment, the lender starts the sale process. The loan modification agreement normally states if a legal action or a bankruptcy action takes place their obligation ends. Now the home owner is not just facing a huge amount of back payments, they are facing foreclosure. Most of the time the effort to start the sales process brings the debtor to my bankruptcy law office. The good news is bankruptcy can offer most people in this situation protection under the bankruptcy laws. The consumer realizes that not only did the loan modification company not get them the modification, but they are now about to lose their home. If this sounds like you, you are a growing number of people that shady people have taken advantage of in these hard economic times. So please call my office if you live in San Diego County since we have helped many just like you. The sooner you call the greater the chance we can help you. Don’t wait! Another common problem with these Loan Modification Programs and even more shocking for the consumer is the following: THE LENDER agrees to put you on a Loan Modification Program only to tell you after several months that you don’t qualify for the program. Well that does not sound too bad until they send a letter telling the homeowner that they are behind on their loan payment and they are starting foreclosure action if they don’t pay the total amount of the arrears they claimed are due. This is the different between the contract amount and the trial program amount, plus interest, late fees and other related costs. Most people don’t save the money of the reduced amount because they used the money to pay other bills to keep afloat. So they have no way to become current. Most of these lenders put very little in writing so guess who wins? Not only do you feel betrayed, but now you owe so much that you can’t get caught up or even think about getting another loan. Some lenders will work out a repayment program which only adds more to the amount you could not afford in the first place and they keep adding late fees and other charges until you are caught up. Many lenders will not even accept your payments at that point. They just keep adding more fees and costs each and every month so there really is no light at the end of the tunnel. Here’s the good news: For most wage earners, Chapter 13 can be an option that is well worth your filing and you have the protection of the bankruptcy court. Around 1.4 million debtors will file bankruptcy to give them a fresh start. Attorney fees can be put into the plan making it a very affordable option. Foreclosure Notice Does Not Necessary Mean You Will Lose Your Home A foreclosure is frightening or saddened experience for most. Bankruptcy may help you in most cases. By filing Chapter 13 bankruptcy, many homebuyers will qualify for the debt relief using an effective payment plan. If your cannot be saved because time just ran out, you may be able to get of the debt and help you avoid tax liability whenever possible. Again you don’t have to have your house sold by the lender just because you can’t come up with all of the money at once. In a Chapter 13 bankruptcy, payments can be spread out over sixty months. Any actions to sell your home is stopped by filing a Chapter 13 bankruptcy. You do not have to pack up and move just because they have a sale date. Bankruptcy can stop it. You do not have to seek out new housing or move and change the children’s school. Stay where you are and let the bankruptcy laws help you. Call my office today! Getting the foreclosure notice or the notice of the intent to sale is a very unsettling experience. While you may fear the future, please know that there are options. But don’t wait until it is too late! Contact my office which is located just a short drive in the San Diego area at 619) 447-6780. At the bankruptcy law firm of David A. Casey, you are NOT alone any more. We will stand at your side and represent you. Attorney Casey will apply the bankruptcy laws which offer you protection. Stopping Foreclosure Through Chapter 13 BankruptcyBy filing a Chapter 13 reorganization prior to an action sale is also called a sheriff's sale, we can effectively and immediately stop foreclosure. The process provides us much needed time to negotiate with your lender when possible and to see if we can reach some sort of agreement. If not, you’ll have the bankruptcy laws working for you. In this economically challenging times, banks are often willing to work with you and it is not uncommon to get loan modification during the bankruptcy process because they ARE more willing to work with you. I will not tell you that I can guarantee to save your home if it is not possible. I will tell you what your options based on your own situation. People who have filed bankruptcy in San Diego have been able to save their homes. Don’t let some bankruptcy mills say anything to get your business. Find out your options first. If you have any questions or want to have a FREE bankruptcy consultation please don’t hesitate to call. I’m looking forward to hearing from you. CALL TODAY! David Casey (619) 447-6780 Chapter 13 may have many advantages to homeowners. Call Attorney Casey for Free Bankruptcy Consultation. 619 447-6780. Below are a Few Common Chapter 13 Questions and Answers. Q. Why should I file Chapter 13" Answer: Chapter 13 offers
individuals a number of advantages over liquidation under chapter 7.
Perhaps most significantly, chapter 13 offers individuals an
opportunity to save their homes from foreclosure. By filing under this
chapter, individuals can stop foreclosure proceedings and may cure
delinquent mortgage payments Q. I make to much money to file chapter 7, can I file a chapter 13? Answer: Yes, Chapter 13 Eligibility (If you earn too much for Chapter 7, Chapter 13 bankruptcy may be an option). Q. Can I be self-employed and still file a Chapter 13? Answer: Yes, any individual, even if self-employed or operating an unincorporated business, is eligible for chapter 13 relief as long as the individual's unsecured debts are less than $336,900 and secured debts are less than $1,010,650. These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation, LLC or partnership may not be a chapter 13 debtor. Q. I recently filed a chapter 7 and it was dismissed due to my failure, can I file a chapter 13 now?
An individual debtor cannot file under chapter 13 or any other chapter if; 1. During the preceding 180 days they have filed a prior bankruptcy petition that was dismissed due to the debtor's willful failure to appear before the court. 2. Comply with orders of the court. 3. Was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens. 4. In addition, no individual may be a debtor under chapter 13 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. 5. There are exceptions in emergency situations or where the U.S. trustee (or bankruptcy administrator) has determined that there are insufficient approved agencies to provide the required counseling. If a debt management plan is developed during required credit counseling, it must be filed with the court. Q. Can A Husband and Wife File a Joint Petition? Answer: A husband and wife may file a joint petition or individual petitions. If you live in a community property state like California, most likely your attorney will recommend filing a joint return if the debt was incurred during the marriage. How Much is the Court Cost To File A Chapter 13 Bankruptcy? The courts must charge a $235 case filing fee and a $39 miscellaneous administrative fee (Total court filing fee $274). My office requires my clients to pay these court cost upon filing to my office. What Happens After I File? What is the Automatic Stay? Filing the petition under chapter 13 "automatically stays" (stops) most collection actions against the debtor or the debtor's property. Filing the petition does not, however, stay certain types of actions , and the stay may be effective only for a short time in some situations. This is why we ask for all the facts prior to filing so the attorney will know what to expect and this also apply to you. The stay arises by operation of law and requires no judicial action. What this means it start as soon as you file. As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even make telephone calls demanding payments. The bankruptcy clerk gives notice of the bankruptcy case to all creditors whose names and addresses are provided by the debtor. Does The Automatic Stay Protect Any Co-Debtors? Chapter 13 also contains a special automatic stay provision that protects co-debtors. Unless the bankruptcy court authorizes otherwise, a creditor may not seek to collect a "consumer debt" from any individual who is liable along with the debtor. Consumer debts are those incurred by an individual primarily for a personal, family, or household purpose.
I Heard That the Automatic Stay Can Stop The Foreclosure
Process Is That True? Individuals may use a chapter 13 proceeding to save their home from foreclosure. The automatic stay stops the foreclosure proceeding as soon as the individual files the chapter 13 petition. The individual may then bring the past-due payments current over a reasonable period of time. Nevertheless, the debtor may still lose the home if the mortgage company completes the foreclosure sale under state law before the debtor files the petition. The debtor may also lose the home if he or she fails to make the regular mortgage payments that come due after the chapter 13 filing. Other words not only you have to stay current but you will have to get caught up during the plan. About 20 to 50 days after the debtor files the chapter 13 petition, the chapter 13 trustee will hold a meeting of creditors. If the U.S. trustee or bankruptcy administrator schedules the meeting at a place that does not have regular U.S. trustee or bankruptcy administrator staffing, the meeting may be held no more than 60 days after the debtor files. During this meeting, the trustee places the debtor under oath, and both the trustee and creditors may ask questions. The debtor must attend the meeting and answer questions regarding his or her financial affairs and the proposed terms of the plan. If a husband and wife file a joint petition, they both must attend the creditors' meeting and answer questions. In order to preserve their independent judgment, bankruptcy judges are prohibited from attending the creditors' meeting. This is the same as in a chapter 7. As your attorney I will try to resolve problems with the plan either during or shortly after the creditors' meeting. Most of the time the Trustee wants the plan to work. Generally, the debtor can avoid problems by making sure that the petition and plan are complete and accurate. Many times I will consult with the trustee prior to the meeting. In a chapter 13 case, to participate in distributions from the bankruptcy estate, unsecured creditors must file their claims with the court within 90 days after the first date set for the meeting of creditors. A governmental unit, however, has 180 days from the date the case is filed file a proof of claim. After the meeting of creditors, the debtor, the chapter 13 trustee, and those creditors who wish to attend will come to court for a hearing on the debtor's chapter 13 repayment plan. The Chapter 13 Plan and Confirmation Hearing. Some attorneys will wait until after the case is filed then draft a plan. My office tries to have the plan ready for filing prior to the filing or not too long after the filing. Unless the court grants an extension, the debtor must file a repayment plan with the petition or within 15 days after the petition is filed. A plan must be submitted for court approval and must provide for payments of fixed amounts to the trustee on a regular basis, typically biweekly or monthly. The trustee then distributes the funds to creditors according to the terms of the plan, which may offer creditors less than full payment on their claims. Many times this means the creditors under a chapter 13 may get very little of what is owed them. Does an Unsecured Claim Have to Be Paid In Full? NO! The plan need not pay unsecured claims in full as long it provides that the debtor will pay all projected "disposable income" over an "applicable commitment period," and as long as unsecured creditors receive at least as much under the plan as they would receive if the debtor's assets were liquidated under chapter 7. What is Considered Disposable Income? "Disposable income" is income (other than child support payments received by the debtor) less amounts reasonably necessary for the maintenance or support of the debtor or dependents and less charitable contributions up to 15% of the debtor's gross income. I Have A Business, What Is Considered Disposable Income? For a debtor who operates a business, the definition of disposable income excludes those amounts which are necessary for ordinary operating expenses. 11 U.S.C. § 1325(b)(2)(A) and (B). How Will I Know How Long My Plan Will Last? The "applicable commitment period" depends on the debtor's current monthly income. The applicable commitment period must be three years if current monthly income is less than the state median for a family of the same size - and five years if the current monthly income is greater than a family of the same size. 11 U.S.C. § 1325(d). The plan may be less than the applicable commitment period (three or five years) only if unsecured debt is paid in full over a shorter period. I will be able to tell you how long it will last. How Soon Will I Have To Start Making Payments On The Plan? Within 30 days after filing the bankruptcy case, even if the plan has not yet been approved by the court, the debtor must start making plan payments to the trustee. If any secured loan payments or lease payments come due before the debtor's plan is confirmed (typically home and automobile payments), the debtor must make adequate protection payments directly to the secured lender or lessor - deducting the amount paid from the amount that would otherwise be paid to the trustee. No later than 45 days after the meeting of creditors, the bankruptcy judge must hold a confirmation hearing and decide whether the plan is feasible and meets the standards for confirmation set forth in the Bankruptcy Code. Creditors will receive 25 days' notice of the hearing and may object to confirmation. While a variety of objections may be made, the most frequent ones are that payments offered under the plan are less than creditors would receive if the debtor's assets were liquidated or that the debtor's plan does not commit all of the debtor's projected disposable income for the three or five year applicable commitment period. If the court confirms the plan, the chapter 13 trustee will distribute funds received under the plan "as soon as is practicable." If the court declines to confirm the plan, the debtor may file a modified plan. The debtor may also convert the case to a liquidation case under chapter 7. What Happens If The Court Denies The Plan? If the court declines to confirm the plan or modified plan and instead dismisses the case, the court may authorize the trustee to keep some funds for costs, but the trustee must return all remaining funds to the debtor (other than funds already disbursed or due to creditors). Occasionally, a change in circumstances may compromise the debtor's ability to make plan payments. For example, a creditor may object or threaten to object to a plan, or the debtor may inadvertently have failed to list all creditors. In such instances, the plan may be modified either before or after confirmation. Modification after confirmation is not limited to an initiative by the debtor, but may be at the request of the trustee or an unsecured creditor. Making the Plan Work The provisions of a confirmed plan bind the debtor and each creditor. 11 U.S.C. § 1327. Once the court confirms the plan, the debtor must make the plan succeed. The debtor must make regular payments to the trustee either directly or through payroll deduction, which will require adjustment to living on a fixed budget for a prolonged period. Furthermore, while confirmation of the plan entitles the debtor to retain property as long as payments are made, the debtor may not incur new debt without consulting the trustee, because additional debt may compromise the debtor's ability to complete the plan. A debtor may make plan payments through payroll deductions. This practice increases the likelihood that payments will be made on time and that the debtor will complete the plan. If the debtor fails to make the payments due under the confirmed plan, the court may dismiss the case or convert it to a liquidation case under chapter 7 of the Bankruptcy Code. 11 U.S.C. § 1307(c). It is really important you make the payments under the plan. The court may also dismiss or convert the debtor's case if the debtor fails to pay any post-filing domestic support obligations (i.e., child support, alimony), or fails to make required tax filings during the case. 11 U.S.C. §§ 1307(c) and (e), 1308, 521. Important Facts about filing a Chapter 13. Find a chapter 13 attorney near San Diego, California .
El Cajon, CA. Bankruptcy Chapter 13. Free Bankruptcy Consultation. Looking to file a Chapter 13 bankruptcy. Not sure if you qualify for a Chapter 13. Free bankruptcy consultation & Pre-filing Bankruptcy. San Diego, CA. (619) 447-6780 |
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Stop Your Home Foreclosure | Bankruptcy Save Homes | Stop Foreclosure
Attorney Casey will stop foreclosure if you act before it to late.
Stop your home foreclosure. I represent clients in all parts of San Diego County. Also Chapter 13 lien stripping.
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Bankruptcy lawyer located near San Diego. CA For all Chapter 13 Bankruptcy need's! San Diego Chapter 13 | Bankruptcy San Diego| Chapter 13 Attorney |
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Free Consultation with a Chapter 7 Attorney There are 19 Cities within 15 miles of my office
Area of Service: San Diego County, Alpine 91901 Bonita 91902 El Cajon 92019, El Cajon 92020, El Cajon 92021, El Cajon 92022, El Cajon 92090, La Mesa 91941, 91977, 92943, 91944. Lakeside 92040 Lemon Grove 91945, 91946. Ramona 92065, Santee 92071. Spring Valley 91976, 92977, 91978, 91979. Spring Valley92064 92074,
Call for chapter 13, (619) 447-6780 Talk to a Bankruptcy Attorney regarding a Chapter 13 bankruptcy.
Call the Bankruptcy law office of David A. Casey today for Debt relief under the bankruptcy code. Read How Chapter 13 works. Find an bankruptcy attorney near San Diego, CA. Get a pre-bankruptcy review. Free Chapter 7 and Chapter 13 consultation.
This communication is an “Advertisement” as defined by the California Rules of Professional Conduct and California Business and Professions Code. No communication herein shall create an attorney-client relationship unless a separate retainer agreement is signed by an attorney and client. This material is for informational purposes only and not intended to provide legal counsel or legal advice to you.
My office is just minutes away for starting the process of become debt free again. Chapter 7 and Chapter 13 Bankruptcy laws are made to help you get a fresh start. San Diego Stop Foreclosure! Bankruptcy May Save Your Home, Cars, 401K San Diego, CA, Call the Bankruptcy law office of David A. Casey today for Debt relief under the bankruptcy code. |
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Area of Service :Alpine 91901
Bonita 91902 Chula Vista 91909-91915 - 91921 Coronado 92118, 92178 Del
Mar 92014 Dulzura 91917 El Cajon 92019-92020, 92021 92022 - 92090
Escondido 92025-92027 - 92029-92030 - 92033, 92046 Imperial Beach
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92040 Lemon Grove 91945-91946, MCAS Miramar 92145 Pacific Beach 92109 Pine Valley
91962 , 91990 Ramona 92065 Rancho Bernardo 92128 Rancho Santa Fe
92067, 92091 Santee 92071 - 92072 Solana
Beach 92075 Spring Valley 91976 92977 91978 91979
La Mesa 91941, 91942,
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Santee 92071. Lemon Grove 91945, Lemon Grove 91946, Lemon Grove CA.
Ramona CA
92065,
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