Bankruptcy is one way to protect yourself from foreclosure, repossession, wage garnishment and never-ending collection calls. Other options are available too.
In certain instances, bankruptcy can stop foreclosure and give you an opportunity to keep your home. If you have missed a few mortgage payments but aren’t in foreclosure yet, you can try to work things out with the lender. It’s often cheaper and easier for lenders to reach an agreement with the homeowner. Usually, you will need to pay extra for a few months to make up for the missed payments. However, if you have already received a notice of foreclosure, bankruptcy is a possible solution.
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Thanks to the automatic stay that goes into effect during bankruptcy, you are temporarily protected from repossessions and other collection efforts after filing. Bankruptcy can stop an impending repossession, but before you file, you have to decide whether you want to keep your car. The answer may depend on how much your car is worth, how much equity you have and other factors.
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Regardless of which option you choose, you should be comfortable with your decision.
If you are considering bankruptcy, contact my office in Oklahoma City. I advise clients on a variety of financial issues and handle each case personally. Call 405-216-0007 to schedule a free consultation.
I am Gary Hammond and I am passionate about bankruptcy.
I am also passionate about helping my clients resolve their money problems and achieve their financial freedom. Whether a client is facing foreclosure, his or her wages are about to be garnished or any other type of financial situation, I always enjoy being able to work with my clients to determine what is the best course of action.
Since I began practicing law in 1990 my focus has been on bankruptcy and bankruptcy related matters.
As a chapter 7 trustee for the Western District of Oklahoma from 1992 – 1994, I successfully administered over 13,000 cases. In addition, I have been involved in thousands of other bankruptcy cases for my various clients. I have been involved in all types of bankruptcy cases – chapter 7, 11 and 13.
Read More: https://oklahomabankruptcyattorneys.com/about-gary-hammond/