If you're tired of hearing about foreclosures, I have some bad news for you; they aren't going away anytime soon. As a Missouri bankruptcy lawyer, I see clients go through the devastating process of a foreclosure. In some cases, people give up, and decide to walk away from their home and let it be sold at an auction. This is a strategic foreclosure decision that many people think will get rid of all of their debt on the home, and most of the time, they are mistaken.
Even though every family is different, most of the time the reason people make the decision to go through a strategic foreclosure is the same. The assumption is "If I can't pay my mortgage, isn't it worth it to just give up my house and walk away?" This seems reasonable, but there is a little problem called the deficiency balance that will most likely keep your plan from easily erasing your debt.
If you decide you want to let your home go into foreclosure, I'm sure you know it will then be sold at an auction. The lender that forecloses on your home is going to sell it to the highest bidder at the auction. The problem you will most likely have is that your home sold for much less than what you owe. The difference between what you owe and what your home sells for is called the deficiency balance.
When there is a deficiency balance on your home, the mortgage lender has the right to come after you for that money. As a Missouri bankruptcy lawyer, I have seen that they will take drastic actions on you to get their money back, such as putting a wage garnishment in place or freezing your bank accounts.
Walking away isn't as easy as you thought, is it? If you are about to be foreclosed on and thinking about walking away from your home, you should do some research before you make a mistake that puts you into more trouble even after your foreclosure. If you are experiencing the pressure of losing everything, before you make a drastic decision, sign any forms or talk to any lawyers, you need to read my FREE book "Get Out of Debt: Secrets Your Creditors Don't Want You to Know." You may find that you don't even need a Missouri bankruptcy lawyer if you act quickly. Not many Missouri bankruptcy lawyers will give you that advice.
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When your finances are out of control, the rest of your life seems to feel that way as well. Castle Law helps you get a grip on the problem by filing for Chapter 7 or Chapter 13 bankruptcy. We can also represent you in situations concerning foreclosure, repossession, wage garnishment, or violations of the FDCPA.
Do you know how filing Chapter 7 bankruptcy can help improve your financial situation? You have probably heard many myths about bankruptcy, such as "you will lose everything." That is definitely not the case as long as you retain the services of an experienced bankruptcy attorney.
Are you worried you will lose the home or vehicle you've worked so hard for because of foreclosure or repossession? A chapter 13 may just be the answer you are looking for to help you quickly save your home or vehicle from being taken.
Millions of Americans continue to lose their homes due to foreclosure. If your family is facing foreclosure in St. Louis and risks living on the street, contact our Missouri bankruptcy law firm today. We can help!
Wage garnishment can make tough times even worse. If you are being affected by garnishments and cannot provide for your family, call us today. We can show you how to get your life back on track.
If you haven’t been able to make car payments due to financial reasons beyond your control, we can stop the Repo Man and help you keep your car. Call us today for a free consultation.
Struggling to pay credit card bills? Not answering the phone because you're tired of hearing from bill collectors? Need options? Contact St. Louis attorney Jim Brown to learn how filing Chapter 7 bankruptcy in Missouri may be able to help. It's time to take your life back and stop the harassing phone calls from creditors today.
Unexpected medical bills can ruin your financial future. If you’ve been suffering under the stress of medical debt, there are options for relief that can keep your family at home without losing everything. Our St. Louis bankruptcy law firm has helped numerous people get rid of debt from medical bills.
Have your hours been cut back because business has been slow or, even worse, have you lost your job? Don’t know how you’re going to pay your bills? Keep a roof over your head? We can help you get your life back. Contact a St. Louis job loss lawyer at Castle Law Office today to learn how filing bankruptcy can help you after loss of employment.
If you're getting harassing phone calls from debt collectors at all hours of the day and night, the Fair Debt Collection Practices Act (FDCPA) gives you a way to stop them. The FDCPA gives you the right to sue collection agencies for up to $1,000 in statutory damages, plus actual damages and attorney fees.