If you are like many people in Southern California, you may be considering bankruptcy because you have fallen behind on your mortgage payments and have been threatened with foreclosure. At the Hedtke Law Firm, we have many strategies for helping people use bankruptcy to stay in their homes. No matter how big your debt problem has become, you can count on us to find a solution.
When Chapter 7 is filed, an automatic stay takes effect that puts an immediate halt to foreclosure actions. Unfortunately, this is a temporary solution. Chapter 7 will keep you in your house a little longer, but Chapter 13 tends to be the best way to keep your house by reorganizing the repayment of the arrearages.
However, if your mortgage is upside down or your house no longer makes sense for you financially, Chapter 7 offers you the option to shed the problem, get a fresh start and move on.
Our experienced lawyer typically recommends Chapter 13 bankruptcy to people who want more than a temporary solution to the threats of home mortgage foreclosure. Chapter 13 allows you to do much more than stop foreclosure actions. It allows you to create a repayment plan that includes all your debt, including past-due house payments. You are given the opportunity to catch up and move forward into a debt-free future. The Chapter 13 repayment plan may restructure your debt, thereby allowing you to free up more of your earnings to live on while making it easier to deal with your financial obligations.
To schedule a free consultation, please call Hedtke Law Firm today at our Upland office at: 909 579-2233 or Chino office: 909 457 0183 or Moreno Valley office at: 951 746 1722.