Law Office of John Kyle & Gregory Smith

09/21/2021

If you are behind on your rent and are worried about being evicted once the moratorium ends on September 30, 2021 I want you to know that BANKRUPTCY CAN STOP EVICTIONS. Contact the Law Office of John Kyle & Gregory Smith to talk to an attorney about your situation.
www.johnkylelaw.com.

The eviction moratorium is ending September 30, 2021. This means that anyone who got behind on their rent due to COVID-19 (or any other reason) can be evicted as of October 1, 2021. It does not matter if you missed 1 or 10 rent payments, you can still be evicted. The landlord might be willing to work with you if you are only behind 1 or 2 payments but probably not if it is more than that. You might be thinking, “well, I’ve signed up for the California rent assistance program”. You may very well have done that but it could easily take months for you to see any of that money. In the meantime you can still be evicted.

You need to act fast. Bankruptcy can only help until the eviction gets to a certain point. You need to get your case filed BEFORE the eviction reaches that point.

At Law Office of John Kyle & Gregory Smith we are uniquely situated so we can act fast and get your case filed quickly.

There are different types of bankruptcies. Each offers different possible solutions as far as the back rent owed and whether or not you want to move. Contact us for a free consultation so you can explain your situation and we can help you decide which is best for you. www.johnkylelaw.com

08/20/2021

What exactly is bankruptcy and how does it work? That's a good question that many people have but are kind of afraid to ask. It has a pretty simple answer.

There are two different kinds of bankruptcy for the average person. Chapter 7 and chapter 13.

A chapter 7 is what most people think of when they think of bankruptcy. It is a straight discharge. It wipes out most kinds of unsecured debt. Things like credit cards, medical bills, personal loans, etc. It does not wipe out child support, student loans, or recent taxes. Houses and cars are called secured debts. In other words, there is collateral attached to the loan that you will lose if the loan is not paid. So, keep paying those if you want to keep the collateral. A chapter 7 stays on your credit for 10 years but that does not mean you can't get credit. Actually, a chapter 7 can easily be a fast way to rebuild your credit.

A chapter 13 is a repayment plan. It's where you make a monthly payment to a court appointed trustee to pay back all or part of your debts. Depending on the type of debt you have and how much you can afford to pay each month. Usually, people do chapter 13s for very specific reasons. Like stopping foreclosure, it forces the mortgage company to take the missed payments over a period of 3 - 5 years. Chapter 13 can stop interest on taxes and unsecured debts and lower interest rates on secured debts. Sometimes you can pay what your car is worth instead of what you owe on it. There are a hundred variables that go in to figuring out what your monthly payment would be and how a chapter 13 would work for you. A chapter 13 stays on your credit report for 7 - 10 years.

Are creditors calling you try to collect? Are you worried about your wages being garnished? Are you behind on car payments and worried about repossession? Do you "rob from Peter to pay Paul"? Are your credit card maxed out and pretty much not usable? Do you even remember what you bought with those credit cards?

Is bankruptcy right for you? That is a simple question that does not have a simple answer. It might not be. But it might be the right thing to help you take control of your financial life and finally be able to sleep at night again.

Check out our website to find out more information and contact us. www.johnkylelaw.com.

07/25/2013

What you think about bankruptcy may not be true...

Much of what people believe about bankruptcy is simply not true. Let's dispel some of these myths right now, shall we?

07/11/2013

IF you are in foreclosure or behind on your mortgage we can help you. Here are answers to some basic questions:

What is a foreclosure?
A foreclosure is the process that a mortgage company has to go through to take possession of your home. They do this when you get behind on your mortgage payments. The first thing that happens is a document called a NOTICE OF DEFAULT AND ELECTION TO SELL UNDER DEED OF TRUST is filed with the county recorder’s office. You are sent several copies of this in the mail, both regular mail and certified mail. This Notice of Default starts a 90 day reinstatement period. After the 90 days are up the mortgage company then files a NOTICE OF TRUSTEE’S SALE. You will also receive several copies of this and one will be attached to your home. This Trustee’s Sale notice will have a date and time on it. This is the date and time of your trustee’s sale. After this date and time the home will no longer be yours.

Can I save my home?
A Chapter 13 bankruptcy will stop a foreclosure and set up a payment plan with payments you can afford. When the chapter 13 is filed an injunction is put in place which stops all collection actions against you, including foreclosure. The chapter 13 will allow you to get caught up on the back mortgage payments by forcing the mortgage company to take smaller payments over a longer period.

Does a chapter 13 work in every case?
Yes. A chapter 13 will always stop a foreclosure as long as the case is filed BEFORE the sale date and you follow the rules of the court and you make the chapter 13 payments as they are set up.

There are many, many other questions that people have, such as: What would my chapter 13 payment be? How much does a chapter cost? How would it affect my other debts? How will this affect my credit? We can answer all of your questions when you come it to the office for your FREE CONSULTATION.

Please call our office immediately and set an appointment to come in for the FREE CONSULTATION. At the consultation you will learn exactly how a chapter 13 will work for you. You will learn how it will affect all of the debts you have. We will tell you what you will be looking at as a chapter 13 payment. We will make sure that chapter 13 is a workable option for you. Chapter 13 is not for every one, if it is not for you we will tell you.

What if I don’t want to keep my house?
If the foreclosure is allowed to complete then the house will no longer belong to you. But THAT IS NOT THE END OF IT. The lender will sell the house at a public auction. If the property sells for less than the amount owed to all mortgage companies, those companies may have the right to come after you for the remaining balance owed to them. YOU COULD STILL OWE A LOT OF MONEY ON A HOUSE YOU NO LONGER OWN. Also, the mortgage company may report the amount of their loss to the IRS as income to you. YOU COULD OWE INCOME TAXES BECAUSE YOU LOST YOUR HOME IN FORECLOSURE. A chapter 7 bankruptcy can wipe out the balance owed to the mortgage company and also eliminate the risk of owing taxes for the foreclosure.

Please call AS SOON AS YOU CAN and set an appointment to come in for your consultation. Our phone numbers are (209) 473-1180, (209) 527-2400, (800) 209-4529. You can also contact us on our website www.johnkylelaw.com. Please do this as soon as possible, time is NOT a luxury you have.

07/11/2013

Having debt problems? We can help!

Bill Collectors want only one thing from you: Money! If you can pay them and still feed your family, that's great. If not, a bankruptcy will stop them cold!