Attorney Working to Prevent Foreclosure throughout Sussex County and Georgetown, Delaware, Area
Helping You Use Bankruptcy to Stop Home Mortgage Foreclosure
If you face serious financial problems and fear home mortgage foreclosure, it is important to consult an attorney. Chapter 13 bankruptcy may be the best option for keeping your home. A Chapter 13 bankruptcy can help you stop foreclosure proceedings and get a fresh start. An experienced lawyer like James C. Reed can guide you through the process.
At the office of attorney James C. Reed, in Rehoboth Beach, I bring over two decades of experience to individuals throughout lower Delaware who face financial challenges, including people involved in foreclosure proceedings. I don’t care how you got behind in your mortgage payments; my sole focus is on helping you use the bankruptcy laws to stop foreclosure and keep your home. Because I understand the stress and anxiety you are under, I provide a high level of personal service and attention to every client, keeping you informed regarding the progress of your case.
To schedule an appointment, contact my office or call me at 302-227-2477. I provide a free initial evaluation to every client.
Stop Home Foreclosure Proceedings with Chapter 13
When you file for bankruptcy protection under Chapter 13, an automatic stay immediately goes into effect, preventing your creditors (including the bank or finance company holding your mortgage) from calling, writing or taking legal action (other than through the bankruptcy court) to collect the debt. You then have the opportunity to reorganize or restructure your debt over a 3 to 5 year period. Any arrears on your mortgage will also be wrapped into the Chapter 13 bankruptcy filing. You must, however, stay current on your mortgage under the new arrangement or you will lose the protection of the bankruptcy law.
Chapter 13 Plans to stop foreclosure, generally provide for a monthly payment to pay: the mortgage arrears, pay off your vehicle loan balances, pay tax debts in full, and a 10% commission to the bankruptcy trustee. Usually these Plans provide for payment over a 3 – 5 year period. I will handle matters related to the bankruptcy filing, preparing and submitting all documentation required to complete the process and providing representation at hearings or meetings with creditors, the bankruptcy court or the trustee. I will help you prepare and submit a plan of reorganization and will review all proposed repayment plans from creditors, to ensure that they are within your means.