Friday, January 25, 2013

Helpful Foreclosure Tips

Facing Foreclosure? Here Are Some Helpful Tips.

Foreclosure can be one of the hardest problems a homeowner can face. If you’re close to facing foreclosure, it most likely means you’re in serious financial difficulty. Understanding the process–and knowing to whom you should turn in this crisis–could make all the difference in emerging without losing everything.

Tip One: Talk to the bank

The FTC (Federal Trade Commission) recommends keeping the lines of communication open with your lender when you fall behind on your mortgage payments. Your lender will have some standard questions such as why you fell behind on your payments and whether your problem is long or short term. Keep notes from the conversation, follow up on all requests your lender makes and meet any deadlines your lender gives you. The more you talk to your lender, the more time you may have to save your home or delay the process offoreclosure.

Tip Two: Bankruptcy is a choice

Once you start getting a few months behind on your mortgage payments, your bank may begin the foreclosure process. Once the foreclosure process has started, you have a decision to make, which may involve either filing for bankruptcy or having the bank foreclose on your home. Bankruptcy can bring foreclosure proceedings to a halt, end harassment from debt collectors, and give you time to make up missed payments and reorganize your finances.

Tip Three: If you file, when to file bankruptcy

Once the foreclosure process begins, there isn’t much you can do to stop it, aside from paying the loan off or filing for bankruptcy protection. You can stop foreclosure when you file bankruptcy because it comes with an automatic stay which protects your home. Once you file for bankruptcy, your creditors cannot continue to pursue actions against you to reclaim your debt until your case is resolved. You must file before your home is sold in a foreclosure auction or the bankruptcy will not make a difference.

Tip Four: Hire an attorney

It is strongly recommended that you hire an attorney if you are facing either bankruptcy or foreclosure. The United States bankruptcy code is extensive and there are attorneys who specialize in understanding the code. Likewise, foreclosure is a complicated and strict process in which rules must be followed by your lender. An attorney that focuses on bankruptcy knows these rules and can protect your rights during the process.
King and King Bankruptcy attorneys in Atlanta are experts in helping people who are facing foreclosure.  Call us today at 404-524-6400 for a free consultation

Friday, January 18, 2013

How Much Can It Cost To File Bankruptcy?

How Much Can It Cost To File Bankruptcy?
King and King Bankruptcy Attorneys, Atlanta, Georgia 1/17/2013

Most people would like to see a dollar amount to answer this question.  However, the cost of filing bankruptcy can vary depending on your financial circumstances, whether you need to file a Chapter 13 or Chapter 7, and the experience of your attorney.

 A Chapter 13 is a reorganization of your debt and a repayment plan bankruptcy. You must have income coming in every month to be able to support a Chapter 13 bankruptcypayment. It is a very detailed and complex bankruptcy and one we suggest that you do not file without an attorney. Chapter 13 bankruptcy may require you to pay a certain amount to your unsecured creditors over the course of your plan. You may be able to eliminate all of your unsecured debt and just pay back your secured debt, a great benefit that many of our clients are able to take advantage of.  You should schedule a consultation with an attorney to get more details and make sure that Chapter 7 bankruptcy (where all of your debt may be discharged) isn't an option.

Chapter 7 bankruptcy can clear most debts in a shorter amount of time.  Once you file Chapter 7, the creditors stop harassing you and debt payments stop.  Most if not all of your property can be protected in a Chapter 7, and you can stop lawsuits and garnishments against you. 
The cost of Chapter 7 or Chapter 13 bankruptcy depends on the case.  Call King and King Bankruptcy attorneys today at 404-524-6400 for a free consultation.  After your consultation, we will be able to offer you a quote for your case. 

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Tuesday, January 15, 2013

Chapter 13 Bankruptcy FAQ’s

Chapter 13 Bankruptcy FAQ’s
King and King Bankruptcy Attorneys, Atlanta Georgia. 1/15/2013

Chapter 13 Bankruptcy is reorganization of debt. If your circumstances meet the eligibility requirements to file for Chapter 13, you may be able to keep most of, if not all of your assets.  Chapter 13 Bankruptcy is the restructuring of your debts under the supervision of the court.  You and the court will develop a plan to pay back creditors within three to five years. Chapter 13 will allow you to keep your property and pay off your debts over time, pursuant to a court-approved repayment plan.

How do I file for Chapter 13 Bankruptcy?

Your first step before filing bankruptcy should be to schedule a free consultation with an experienced bankruptcy attorney.  Once you know your options and a course of actions has been agreed on, our attorneys will file a petition with the bankruptcy court.  Before, during, and after your bankruptcy our attorneys at King and King will walk you through the process and answer any question you may have.

What will I need to file Chapter 13 Bankruptcy?

Complete statement of your financial affairs.
List of your current income and expenditures.
A current listing of your assets and liabilities.
A schedule of certain loan contracts and unexpired leases.

Do I Qualify for Chapter 13 Bankruptcy?

Eligibility is determined on a case by case basis. However, you may be eligible to file Chapter 13 if you have a current regular income. Chapter 13 will allow you to keep your property and pay off your debts over time, usually three to five years, pursuant to a court-approved repayment plan. You may be eligible to file Chapter 13 debt-relief as long as your unsecured debts and secured debts meet state requirements.
King and King has years of experience with Georgia bankruptcy law, and can help you find the best solution to get your life back on track. If you need an experienced bankruptcy attorney and you’re ready to start exploring your options, stop into the office in Atlanta, Marietta, orLawrenceville, or give us a call at (404)524-6400.

Thursday, January 10, 2013

Facing Repossession? Bankruptcy Can Help.

I’m Facing Repossession, Can Bankruptcy Help?

If you or a loved one is facing repossession or is behind on car payments, you’re not alone. The economy, job loss, medical bills: these are all common reasons many people fall behind on their car payments and face repossession. When you get behind on car payments, the lender can repossess the vehicle. In most vehicle loan contracts, there are clauses that allow the repossession of your vehicle should you fail to make the scheduled payments. If you have received notice that your car is going to be repossessed, your first step is to contact the lender and arrange to pay the past due amount. However, many people are not in a position to do that, which is when filing a Chapter 13 bankruptcy may be the best option. Chapter 13 can stop the repossession of your vehicle and allow you to pay back the lender over time through a Chapter 13 re-payment plan.  You can probably also reduce the interest rate that you agreed to pay to the lender.  This can save you a lot of money.

If your car has already been repossessed, you may be responsible for the unpaid balance of the loan once the vehicle is sold. If this is the case, bankruptcy may still be the best option for you, as it will protect you from collections, judgments, and possible wage garnishment. Whether you have a prior repossession or are struggling to save your car, King and King bankruptcy attorneys can help.  At King and King, we have helped individuals and families in Georgia save their homes, their cars and their hard earned wages. Having an attorney who knows how to protect you and your property is vital. Call today for your free consultation. 404-524-6400

Friday, January 4, 2013

How Can Bankruptcy Help Me?

How Can Bankruptcy Help Me?

King and King, Atlanta Bankruptcy Attorneys, 1/4/2013

For many people, financial difficulties have a way of compounding quickly. Creditors call you looking for payment while you spend much of your day, and possibly some sleepless nights, looking for a way to make your budget work. Many companies offer debt relief, promising a way out with consolidation or debt settlement. Unfortunately, these can become more complicated and less successful than promised, leaving you back where you started.

This is how bankruptcy can help: where these programs fail, bankruptcy can succeed. Unlike private programs that focus primarily on profits for the companies providing them, bankruptcy is enacted under federal law, designed to provide immediate relief, and is a real, viable solution for dealing with crippling debt.

If you're struggling with debt, you're not alone. In the last year, roughly 1.5 million families found relief through bankruptcy. These families faced a multitude of challenges, like:

Harassing phone calls
Collection letters
Lawsuits and judgments

Bankruptcy can help. While it may not be the right solution for every situation, it provides the opportunity for a new financial beginning. Instead of the stress of waiting and hoping, you can take action. Filing for bankruptcy will stop all of the actions above and can help you find the financial freedom you thought you would never have again.

It’s important to take the time to understand your bankruptcy options. Call King and King for a free bankruptcy consultation. We will evaluate your situation and give you the facts you need to make an informed decision. Call us for help today 404-524-6400

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