Thursday, February 21, 2013

Avoid Foreclosure and Get Rid of Debt?

Avoid Foreclosure and Get Rid of Debt?
King and King Bankruptcy Attorneys, 2/21/2013

If you’re facing a foreclosure, you are in trouble and trying to figure out where to turn.  You should select an attorney that is able to stop the foreclosure and help you to manage your other debt as well. When you file Chapter 13 bankruptcy, you are asking the Court to restructure all of your debts.

Many of your debts will be reduced or discharged through bankruptcy. Chapter 13 bankruptcy stops the foreclosure on your home and your other debts will be condensed and combined into a simple monthly payment that will allow you to regain financial stability.

Another benefit of filing for bankruptcy is you will be able to stay in your home during the proceeding, avoiding foreclosure and eviction. This can help reduce the stress of financial crisis you are facing. If you’re facingforeclosure or are behind on your mortgage payments, filing bankruptcy is a way to manage your debt and save your home from foreclosure.

If you owe more on your home than it's worth and have multiple liens, lien stripping may be an option for you. We take the debt that is over the value of the home and have it converted into unsecured debt, which may then be discharged in the bankruptcy proceedings. This is a tremendous benefit to our clients that qualify.

King and King bankruptcy attorneys are dedicated to providing information and guidance to individuals and families that are unable to pay their mortgages. If you have a question regarding foreclosure and bankruptcy in Georgia, please contact us at 404-524-6400 and we can connect you with one of our experienced bankruptcy attorneys for a free bankruptcy evaluation. 

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