Cumming Foreclosure Defense Attorney
Many indebted people resist filing for bankruptcy because they fear losing their homes. Ironically, by delaying in finding financial solutions to their debt problems, they often create the very outcome they wish to avoid.
At David Wallace and Associates, P.C., we understand that our bankruptcy clients in northeast Atlanta and northeast Georgia need to regain financial independence and dignity in the face of seemingly insurmountable debts. To that end, we help people keep their homes through personal bankruptcy.
For a free consultation with a bankruptcy attorney, call us in Dawsonville, Georgia, today at 706-410-1439 or 877-269-5688 toll free. You may also contact us online.
Prevent Home Foreclosure With an Automatic Stay | Dahlonega Stop Foreclosure Attorney
One little understood fact about bankruptcy is that, under certain circumstances, it can be an extremely effective way to keep a home out of foreclosure.
The Chapter 7 and Chapter 13 bankruptcy processes resolve debts in different way; however, they share important advantages:
- More time. When a debtor files for bankruptcy, a bankruptcy court may grant a motion, called an "automatic stay," which keeps lenders from foreclosing on a home before the bankruptcy action concludes (usually about six months for a Chapter 7 filing and up to five years for a Chapter 13 filing).
- Liquidation exemptions. Like many states, Georgia exempts certain properties from liquidation in bankruptcy proceedings. Such exemptions may include your primary house or car up to certain value limits.
Once you declare bankruptcy, your debts can be resolved in different ways. If you file for Chapter 7 bankruptcy, most debts can be forgiven in exchange for liquidating many of your assets.
If you file for Chapter 13 bankruptcy, you will have the option to repay your debts — including late mortgage payments — through a court-approved debt restructuring plan.
In either case, our experienced bankruptcy lawyer can help you lighten your debts while freeing more of your income to pay your mortgage.
Underwater on a Mortgage? Strip Your Lien
A third measure that can potentially halt a home foreclosure is also available through a Chapter 13 bankruptcy process. Called "lien stripping," it enables mortgage payers to remove the second or third mortgage from a home if the balance of a first mortgage exceeds its market value.
Free Consultation | Northeast Atlanta Stop Foreclosure Lawyer | 706-410-1439
At David Wallace and Associates, P.C., we understand the anxiety a threat of mortgage foreclosure can cause. We help our clients delay or avoid foreclosures by using the legal tools provided to all Georgians under federal bankruptcy laws.
To discuss your debt circumstances in a free consultation with an attorney, call us today at 706-410-1439 or 877-269-5688 toll free. You may also contact us online.
Let us lift your legal burden so you can get on with your life.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
