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Advertiser DAL Law Firm: Keeping your home even if you file for Bankruptcy


From Advertiser DAL Law Firm:

HandsHoldingHouse

Keeping Your Home Even If You File For Bankruptcy

Many times, when we meet with clients regarding bankruptcy, they come in with many preconceived notions about bankruptcy. One of the most common we hear is that people think that they will lose their home just because they’ve filed for bankruptcy. But that’s not true. You can file for bankruptcy and still keep your home.

If you are current on your home mortgage(s), you can keep your home and discharge your debts. This is true for both Chapter 7 and Chapter 13. In a Chapter 7 situation, you’ll file for bankruptcy, and about 3 months later you’ll have a discharge relieving you of most, if not all, of your unsecured debts, and possibly even some secured debts, and you’ll still have your home afterwards and you’ll continue paying your mortgage(s) as usual.

But what if you have equity in your home? You can still file for bankruptcy and protect up to $125,000 in equity in your home. You can file for bankruptcy, either chapter, and not lose one cent of the equity in your home.

Now, for many people, not only do they not have equity in their home, but they are also behind on their mortgage payments. Maybe they had a mortgage with an adjustable interest rate which caused their payment to increase, maybe there was a loss of income, medical concerns, or another type of hardship that caused them to get behind on their mortgage. We can help you get current on your mortgage. A Chapter 13 bankruptcy can save your home from foreclosure, and we may even be able to work with your mortgage company to make your payments more affordable.

Bankruptcy can be a very effective tool for people who may need it. Bankruptcy gives people a fresh start and allows them to get off a financial cycle of relying upon credit cards and other types of debts to get them through month to month, sometimes at interest rates of over 20%. Our goal is to put our clients back in control of their finances.

Call our office today and schedule a free bankruptcy consultation to see if it may be a right fit for you to relieve you of your financial stresses.

“My wife and I paid all our bills on time and had near-perfect credit for years, and then we didn’t. We needed to make a complicated decision about our financial future. Darcel helped my wife and I make the decide that a Chapter 7 was the best approach for us. Over a period nearly a year in length, Darcel answered all our questions and helped us clearly understand all the ramifications about decisions, and the timeline of our case. And she was there with us in court. We’re on the road again now. Thanks again for your professional, courteous support, Darcel!”

DarcelLobo

Darcel Lobo

Contact us:

19803 1st Avenue S.
Suite 200
Normandy Park, WA 98148

T (206) 408-8158
(206) 374-2810
E [email protected]

http://www.dallawfirm.com

https://www.facebook.com/DAL-Law-Firm-203308630032502/

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