923 FAQs where found , 30 in this page
Some tips that will help you through the whole process include: Assessing your finances: Find out more about what caused the financial problem and what to do in order to avoid the same issues in the future. Pull a free credit report: This will help you find out more about all the creditors you owe. All these creditors should be included in the bankruptcy process. Get a credit counseling certificate as soon as you can. This is one of the pre-filing requirements for bankruptcy. You must get the certificate from a government certified counseling agency. Hire an attorney: This is probably one of the wisest things you can do. Attorneys know way more than you about how things work in the legal system. Learn More
Yes, its possible getting them but we dont encourage self-representation. This will leave your case open for possible serious or permanent error. Capable legal counsel is always best. If you would like to get familiar with these forms, click here. Learn More
Under the new law, you must seek credit counseling, unless you have received counseling from an approved nonprofit agency. The law will only exempt individuals unable to comply due to disability, incapacity, or active military duty. Learn More
Bankruptcy cases work on an individual basis. Its not like owning a property where both spouses are in it together. A bankruptcy will only affect the person filing. It wont affect the spouse not-filing. Spouses have different names and social security numbers therefore their financial lives are independent in the credit bureaus eyes. However, if you are a co-debtor, the creditor will definitely look at you for payments. Ask more an attorney from Gallardo Law Firm about what to do in this situation. Learn More
You will not have to go to court. There is a section 341 Meeting of the Creditors that you will have to attend but since no one ever shows up you will probably have to hire a lawyer. These meetings take around 10 minutes and no special preparation is required. Learn More
Maybe you will be able to keep some credit cards but just remember that the trustee will request that you cut up all your credit cards. After you file, you should not charge anything on your credit cards. The goal is going debt free. If you are not indebted with a particular creditor perhaps you can keep their credit card. However, first check with your attorney. Learn More
A bankruptcy will definitely hurt your ability to get credit in the future. This will appear on your credit records for ten years. The best thing to do is to pay the bills as agreed. Bankruptcy will not get rid of your bills; it only helps you with some responsibilities. Perhaps you are lucky enough to find a creditor that may be able to overlook your past financial status. Learn More
In the state of Florida you must respond within 20 days following notification. Therefore it is of great importance to meet with a lawyer. Learn More
Yes, the foreclosure attorney in his defense gives you time to fix your financial situation or achieve alternatives that benefit both you and your family. Learn More
It is the embargo that occurs against the debtor since the sale of the property was not enough to pay the mortgage, it is considered a debt. Learn More
All those individuals and companies with large financial debts that cannot be solved by themselves and need to rely on one of the types of bankruptcy to resolve the economic situation. The bankruptcy works best for borrowers who may have some type of income that helps them cover their costs after downloading the corresponding chapter in the case. Learn More
When a homeowner decides to stop making mortgage payments, this is called a strategic default. Strategic defaults are used usually when the persons home is worth less than the mortgage balance, or when the person is no longer able to pay their monthly mortgage payments. Learn More
A letter of demand or acceleration is sent by a lender to a homeowner when the homeowner stops paying the mortgage. The lender must send this letter before they can proceed with a foreclosure lawsuit by the total loan amount. Learn More
There are a number of foreclosure alternatives available to homeowners, including short sales, deed in lieu of foreclosure and loan modifications. A qualified attorney can assist you in implementing these options and give great chances of a successful outcome. Learn More
Bankruptcy should never be the first alternative for individuals with a foreclosure; there are other options that can be adopted to prevent the implications of a foreclosure sale. If the mortgage borrower has other debts, then bankruptcy could be a way to use to relieve the homeowner, but still it should be the last resort. Learn More
No, the debtors are not going to prison for having accounts payable with creditors, unless they have committed a federal crime or fraud. Creditors may only collect debts through the court and ask the judge for a claim against the debtor for a money judgment. Even if the demand is achieved, creditors can seize some of your properties or cancel your checking account, but they cannot get an arrest warrant for debtors. Learn More
Borrowers are allowed to receive only one loan modification within a period of 2 years. Learn More
Yes. The lender can perform an inspection or any review it considers necessary to verify that the house has no physical conditions negatively influencing the borrower's ability to make the modified mortgage payments. Learn More
The Home Affordable Modification Program (HAMP) was created by the government. This federal program was designed in order to ease the financial burden of homeowners when paying their housing costs. HAMP helps homeowners by reducing their mortgage payments and make them more affordable. Our lawyers at Gallardo Law Firm are familiar with the process. They can help you determine which options you have and whether you qualify. Learn More
It is expected that the lender waive all late charges accrued at the time of the loan workout. This can vary depending on the loan but its always useful to ask for a complete breakdown or description of all penalties and fees from your lender. Learn More
Individuals participating in Home Affordable Modification Program (HAMP) generally dont see a drop in their credit score since the government has requirements in which lenders report HAMP in a way that it doesn't harm the borrowers credit score. Nevertheless, there is no guarantee that a loan modification will not affect your credit score. If you have any loan modification questions or concerns, call Gallardo Law Firm. Learn More
You may receive a reduction in your principal. Mortgages companies are receiving incentives from the government to do so. There are certain requirements you need to meet which includes living in your house and have a mortgage of $729,750 or less. Learn More
When the borrower doesnt qualify for a loan modification yet he or she cant afford mortgage payments; there are other options that will help the homeowner avoid foreclosure, which may include: Selling your your home for less than you presently owe the bank. The home is given back to the lender through a deed-in-lieu of foreclosure.' Applying for forbearance, which helps the lender reduce or suspend loan payments normally for up to 90 days. You can also find a tenant who will rent your home. The rent money can be used to repay the lender. Learn More
In the state of Florida you must respond within 20 days following notification. Therefore, it is of great importance to meet with a foreclosure attorney. Learn More
Yes, the foreclosure attorney at Gallardo law Firm in his defense gives you time to fix your financial situation or achieve alternatives that benefit both you and your family. Learn More
It is the embargo that occurs against the debtor since the sale of the property was not enough to pay for the mortgage. It is considered a debt. Learn More
Individuals and companies with large financial debts that cannot be solved by themselves and need to rely on one of the types of bankruptcy to resolve the economic situation can qualify for bankruptcy. Bankruptcy works best for borrowers who may have some type of income that helps them cover their costs after downloading the corresponding chapter in the case. Learn More
When a homeowner decides to stop making mortgage payments, this is called a strategic default. Strategic defaults are a good option when the individuals property is worth less than the mortgage balance, or when the person is no longer able to pay their monthly mortgage payments. Learn More
A letter of demand or acceleration is sent by a lender to a homeowner when the homeowner stops paying the mortgage. The lender must send this letter before they can proceed with a foreclosure lawsuit by the total loan amount. Learn More
There are several foreclosure options available to homeowners, including short sales, deed in lieu of foreclosure and loan modifications. A qualified attorney can assist you in implementing these options and increase the chances of a successful outcome. Learn More