Can Bankruptcy Stop a Foreclosure Proceeding?
Posted on | May 18, 2011 | No Comments
When you face financial difficulties, your mortgage payment can be particularly imposing. For many people, it is the single largest payment they make every month. If you have fallen behind on your house payments and can seem to catch up, even though you are working or have income, you may wonder whether a Chapter 13 debtors’ reorganization will help you keep your home. This blog post addresses how the bankruptcy laws affect foreclosure proceedings.
At the office of bankruptcy attorney Carrie Weir, in Rockwall, Texas, I provide a free initial consultation to anyone considering filing for bankruptcy. For a private meeting, contact my office online or call me at 972-772-3083 to set up an appointment.
Bankruptcy and Home Mortgage Foreclosure
As a consumer, you generally have two options in bankruptcy: a liquidation proceeding under Chapter 7 and a reorganization petition under Chapter 13. In a Chapter 7 proceeding, you are allowed to permanently rid yourself of certain debts in exchange for the sale of some of your assets. Chapter 7 bankruptcy generally governs unsecured debts, such as credit card obligations and medical expenses. As a general rule, you cannot discharge the debt on property, such as a house or car, and still keep the property.
In a Chapter 13 filing, you enter into new payment agreements with your creditors. Often, as part of the process, your creditors may be willing to waive penalties and late fees, and allow you to roll any arrearages into a new note.
Whether you file for protection under Chapter 7 or Chapter 13, you are entitled to the benefit of the automatic stay under the bankruptcy laws. The automatic stay prohibits your creditors from calling you, writing to you or taking legal action against you, other than through the bankruptcy proceeding. This means that they cannot initiate legal action (file any lawsuits against you) and cannot proceed with any legal claims that have already been filed. So, if you have filed under Chapter 7 or Chapter 13, a lender cannot start foreclosure proceedings against you. If a foreclosure action has already been filed, it must be suspended while the bankruptcy is in process.
A Chapter 7 bankruptcy proceeding will end once debts have been discharged, assets have been sold and the proceeds distributed among creditors. Because you can’t discharge your mortgage debt and keep the house, when the Chapter 7 proceeding is over, you will again be responsible for paying mortgage payments.
A Chapter 13 proceeding can last three to five years. Throughout the duration of the Chapter 13, you have the protection of the automatic stay. You must, however, make all agreed payments or you risk the loss of the automatic stay.
Contact Heath, TX Bankruptcy Attorney Carrie Weir
I offer a free initial consultation to all potential bankruptcy clients. Contact my office by e-mail or call me at 972-772-3083 for a private meeting. With offices in Rockwall, Texas, I represent clients in Heath, Greenville, Lavon, Wylie, Mesquite and Rowlett.
Pros and Cons of Filing for Bankruptcy
Posted on | September 13, 2010 | No Comments
A personal bankruptcy filing can help you get a fresh start, putting an end to the non-stop phone calls, letters and legal actions you face. There are consequences to filing for bankruptcy, though. Before submitting a Chapter 7 or Chapter 13 petition, you want to consider all the advantages and disadvantages, so that you make the decision that is best for you.
The Benefits of a Bankruptcy Filing
• For most people, the most important reason for filing for bankruptcy protection is to obtain the protection of the automatic stay. The automatic stay prohibits creditors from calling, writing or taking any other legal action outside the bankruptcy process to collect a debt. While the stay is in place, you can get caught up with some or many of your creditors.
• Filing for bankruptcy can actually help you get a quicker start on rebuilding your credit. Once creditors see that you have taken constructive action to resolve debt problems, they are often more willing to work with you and help you re-establish your credit.
• A Chapter 7 bankruptcy filing will allow you to permanently discharge some debts. This can free up the resources necessary so that you can meet your other financial obligations.
• Certain essential property is exempt from sale in a Chapter 7 petition, so you can discharge debts without losing your home, principal vehicle and other necessary items.
• Bankruptcy will stop garnishment, foreclosure and repossession proceedings.
The Consequences of Filing for Bankruptcy Protection
• You will lose all credit cards, unless they are paid off before you file, and you won’t have many opportunities for credit or credit cards for a while. In many instances, you can apply for new credit cards within 24 months, but may have to pay significantly higher interest rates.
• You may not be able to get a home mortgage for up to five years.
• You won’t be able to discharge all debts. Student loan payments, child support arrearages and certain tax debts cannot be wiped out in bankruptcy.
• Bankruptcy can carry an emotional stigma, but so can being sued for non-payment.
• A bankruptcy will appear on your credit report for up to 10 years, making it hard to buy a car or house, get life insurance or even a job.
• Bankruptcy is a matter of public record. If you file, your name will appear in court documents and may appear in the local newspaper.
Take a Close Look before You File
Bankruptcy is not for everyone. If most of your debt is in student loans or tax arrearages, you may be limited to debt reorganization or need to look at alternatives to bankruptcy. For additional information, contact an experienced Rockwall County Bankruptcy Attorney at the Law Office of Carrie L. Weir in Rockwall, Texas.
Located in Rockwall, Texas, and representing individuals throughout the Rockwall County area, the Law Office of Carrie L. Weir provides clients with quality representation and personal service.
I have more than 10 years of experience handling legal issues involving personal finance, including bankruptcy. Although I am one of the only attorneys in Rockwall County who focuses my practice on bankruptcy, I also look for alternatives to bankruptcy that might better serve your interests and achieve your goals.
I also believe that in order to properly represent you, I need to have the requisite information and understanding of you and your circumstances. For that reason, I will handle all of your paperwork and interviews personally. I don’t want to walk into a meeting of creditors or a courtroom and be surprised.
At my office, you will always be treated with the respect you deserve. Take advantage of my understanding and years of experience battling and negotiating with creditors. You do have options; we just need to determine what they are.
Contact Attorney Carrie Weir Today at 972-772-3083
I offer experienced representation in a relaxed environment. You owe it to yourself to have the information you need to make an informed decision. Call me today to schedule a free, confidential consultation. I can be reached at 972-772-3083 or via our Online Intake Form below.
If I am in court or with a client, please leave a message and I will return your call as promptly as possible. I am genuinely interested in helping you and presenting you with all of your viable options, whether those include bankruptcy or alternatives to bankruptcy.
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Alternatives to Bankruptcy in Texas
Posted on | July 2, 2010 | No Comments
Alternatives to Bankruptcy in Texas
Bankruptcy Alternatives: Can I Avoid Bankruptcy?
I believe that one of the things that sets me apart from many other bankruptcy lawyers throughout the U.S. is my willingness and ability to look for the best options to accomplish your goals, whether bankruptcy or an alternative.
My name is Carrie Weir, and I am a Rockwall lawyer with more than 10 years of experience with bankruptcy and bankruptcy alternatives. My job is to serve your best interests, and if I fail to look for and inform you of alternatives, then I am not doing my job.
I invite you to review some of my qualifications and the benefits of retaining my services to assist you with your Chapter 13 bankruptcy.
Call Rockwall bankruptcy lawyer Carrie Weir at 972-772-3083 for a free, confidential consultation to discuss your options.
Experienced Advice Regarding Bankruptcy and Bankruptcy Alternatives
The bankruptcy laws help many people, but they are not always the best option. For example, to stop a foreclosure, the best solution might be for me to negotiate directly with your lender to either make payment arrangements or buy you time to procure another loan from a different lender or sell your home (depending on your goals).
In some cases, your best option is a Chapter 7 or Chapter 13 bankruptcy. However, don’t you want to know your options, and won’t you feel more comfortable knowing that alternatives to bankruptcy were examined before bankruptcy was recommended?
You deserve to have the information you need to make an informed decision about bankruptcy or any bankruptcy alternative.
Chapter 7 Bankruptcy ———————- Chapter 13 Bankruptcy
Contact an Experienced Rockwall Bankruptcy Lawyer
To schedule a free, confidential consultation with an experienced bankruptcy lawyer in Rockwall, Texas, please call me at 972-772-3083 or fill out this form and I will contact you to schedule an appointment. I do my best to answer all calls, but sometimes I am in court or with another client. Please leave a message if I do not answer the phone, and I will return your call as soon as possible.
Pursuant to 11 U.S.C. §528, we are a debt-relief agency. We will proudly help you file for bankruptcy relief under the bankruptcy code if we believe it is in your best interests.
Tags: avoid bankruptcy > Bankruptcy > bankruptcy alternatives > bankruptcy lawyers > carrie weir > chapter 13 bankruptcy > chapter 7 bankruptcy > Dallas > home > lender > loan > Rockwall > rockwall bankruptcy lawyer > stop a foreclosure > Texas
Contact The Law Office of Carrie L. Weir
Posted on | April 12, 2010 | No Comments
Contact The Law Office of Carrie L. Weir
Contact Attorney Carrie Weir Today at 972-772-3083
As a consumer bankruptcy lawyer in Rockwall, Texas, I have spent more than 10 years helping individuals just like you get a fresh start. One of things that separates me from many other bankruptcy lawyers is that I do all the work myself.
I want to know you and understand your issues and concerns. For that reason, I personally conduct the initial interview, complete the required paperwork and attend all hearings. My goal is to serve your best interests, utilizing my experience, knowledge, skills and background.
Call Rockwall bankruptcy lawyer Carrie Weir at 972-772-3083 for a free, confidential consultation to discuss your options.
I offer experienced representation in a relaxed environment. You owe it to yourself to have the information you need to make an informed decision. Call me today to schedule a free, confidential consultation. I can be reached at 972-772-3083 or via the form below.
If I am in court or with a client, please leave a message and I will return your call as promptly as possible. I am genuinely interested in helping you and presenting you with all of your viable options, whether those include bankruptcy or alternatives to bankruptcy.
Bad Things Happen to Good People
I became a lawyer because I wanted to help people and families through difficult times. I chose bankruptcy law because I believe everyone deserves a second chance.
Whether you are in financial straits because of an accident, unforeseen medical expenses, a job loss, declining income or a credit card trap, I want to help. I want to stop any foreclosure on your home or repossession of your car.
If you are in financial trouble, you should consult an experienced lawyer for sound advice about your options.
Contact an Experienced Rockwall Bankruptcy Attorney
To schedule a free, confidential consultation with an experienced bankruptcy attorney in Rockwall, Texas, please call me at 972-772-3083 or fill out this form and I will contact you to schedule an appointment. I do my best to answer all calls, but sometimes I am in court or with another client. Please leave a message if I do not answer the phone, and I will return your call as soon as possible.
Pursuant to 11 U.S.C. §528, we are a debt-relief agency. We will proudly help you file for bankruptcy relief under the bankruptcy code if we believe it is in your best interests.
Tags: Bankruptcy > bankruptcy alternatives > bankruptcy attorney rockwall bankruptcy attorney > bankruptcy law > bankruptcy lawyer > car > credit card > declining income > financial straits > foreclosure > home > job loss > repossession > unforeseen medical expenses
