Hard economic times have resulted in a record number of foreclosure filings and people losing their homes. If you are facing foreclosure on your home or an investment property, you may want to speak with a Georgia bankruptcy attorney about filing for bankruptcy protection. When you file for bankruptcy protection, bankruptcy stays your creditors from colleting debts against you, including your mortgage lender.
How Bankruptcy Can Help you Save your Home?
If you have a mortgage on your home and you are falling behind, or your lender has filed for foreclosure, you have options. You may be able to avoid foreclosure and keep your home by filing bankruptcy. Bankruptcy stays your lender from proceeding with foreclosure actions. The lender cannot sell your home at a foreclosure auction once you file for bankruptcy. Filing for bankruptcy gives you an opportunity to negotiate with your lender and reorganize your debts under Chapter 13 or get rid of your debts by starting all over again without any debt by filing under Chapter 7. If you decide you don’t want to keep your home or you cannot afford to make even reduced payments, then you still have the option of giving it back to the lender.
Hiring a Bankruptcy Attorney
Before you make any major decisions about your home and your debt, you should consult with a bankruptcy attorney. The attorney can access your financial situation and advise you of the best course of action to take to save your home and get out of debt. The attorney will be able to help you with all aspects of filing for bankruptcy, including preparing the necessary paperwork, negotiating with your lender to reduce your mortgage debt and representing you at all Bankruptcy Court proceedings.
Trying to settle foreclosure and credit matters on your own is a difficult and stressful task. You will have a much better outcome when work with an experienced Georgia bankruptcy attorney. Your creditors will take you more seriously, especially your lender. You may only get one opportunity to save your home, so you don’t want to jeopardize that by making a mistake or letting your lender taking advantage of you. Hiring a bankruptcy attorney is one of your best options to make sure that your lender and other creditors treat you fairly. Having proper legal representation also gives you the peace of mind that someone is looking after your best interests and helping you through a difficult time in your life.
If you would like to discuss your bankruptcy options contact my office immediately.
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