Helping People Save Their Homes and Keep Their Vehicles
At the law firm of David F. Cannon, we talk to people during some of the most stressful times in their lives. We talk to people who are trying desperately to hold on to their homes, their cars, and other valued possessions. If this describes your situation, you need to talk to us immediately. In many cases, we can help you save your home or your automobile through the bankruptcy process. Don't put off this conversation.
How Can Bankruptcy Help Me Save My Home?
If your lender has started foreclosure, or if you are at risk of foreclosure, bankruptcy will serve two important functions. First, once you file bankruptcy, the automatic stay will begin. The automatic stay requires all of your creditors, including the holder of your mortgage, to stop foreclosure. Under Chapter 7 bankruptcy, your lender can ask the Bankruptcy Court to restart a foreclosure. Therefore, Chapter 7 does not always provide permanent relief. On the other hand, Chapter 13 bankruptcy will let you repay your past due mortgage balance over a three- to five-year time frame. If you have a regular income, Chapter 13 can be an effective way to help you save your home.
How Will Bankruptcy Allow Me to Keep My Car?
Filing bankruptcy will begin the automatic stay, which will halt all efforts to repossess your vehicle. This can give you time to renegotiate terms with your bank. In a Chapter 7 bankruptcy, you may also have the option to reaffirm your automobile debt. In a reaffirmation, you enter into a new contract with your lender. Chapter 13 bankruptcy offers even more options. For instance, if you purchased your vehicle more than 910 days from your bankruptcy filing, you only have to pay the value of the vehicle, and not the amount you owe. This usually results in major savings. Further, our lawyers can help you renegotiate more favorable interest rates.
Contact Nashville Bankruptcy Property Ownership Attorney David F. Cannon
Talk to us to see whether we can help you save the property that is vital to your life. Call 615-800-3725, toll free at 877-696-8680, or e-mail us today to schedule a confidential consultation with our law firm.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
