With the increase in foreclosure rates nationwide, people are understandably concerned about their homes and foreclosure risks. If you file bankruptcy, it is not guaranteed that you will lose your home. Often, homeowners who file for Chapter 7 bankruptcy do not have enough equity in their homes to benefit creditors. If the trustee sees that the home is not a large enough asset, they will decide not to liquidate the home and the debtor will be allowed to keep the home.
Also, an automatic stay goes into effect once a bankruptcy petition is signed. This will stop foreclosure, wage garnishment and other legal proceedings until you can work out a financial plan to repay debts, giving you more time to consider possible options.
We can answer all your questions regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. If you need help regarding a bankruptcy in California, call us at 1800.941.6730 and we will be more than happy to offer you a free consultation over the phone. You can also fill out a free online evaluation at our website, www.sagarialaw.com, or request a free face to face appointment at a Sagaria Law office location close to you. We have bankruptcy attorneys located throughout California and Oregon to assist you with all your debt resolution needs.
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Tags: Bankruptcy, File Bankruptcy