Don’t Let Them Take Your House!
By: Darrell Castle
Connie is behind on her mortgage payments and now she’s facing a foreclosure so she comes in and talks to Darrell.
“When you’re a little bit behind on your house payment, the first thing I always ask people is, if you were current on your house note today, would you be able to make the payment? You already told me that you could – you had a temporary setback in income so that you missed some payments and now the mortgage company wants all that money at the same time.
You’re unable to do that, and if you can’t pay all that money at the same time, then their threats to foreclose on your house are going to come true – they’re actually going to do that. Thats what Chapter 13 is for.
It will not lower your ongoing house payment, but it will take all the money you’re past due and will combine it into a very small payment spread out over a period of time so that you don’t have to pay it all at once – you can gradually catch it back and get back on your feet.
At the same time, all of your other bills can be included as well at a very small payment so that everything is taken care of with an affordable payment that you make out of each one of your paydays.
Then, once all that’s done – after you finish this plan (that’s what we call it, a Chapter 13 plan because it’s a plan of repayment), a plan we file for you that explains how you’re going to be able to repay your bills. And when that’s finished, you’ll be free of debt except for your normal house payment.
Your car, credit card, medical bills – all of that stuff will be gone and paid for and you’ll still have your car and be back on your feet and have a fresh start. That’s what the Supreme Court calls it – a fresh start.
This is nothing to be ashamed of. I know you’re concerned about doing a bankruptcy and you think it’s going to be really hard, it’s going to hurt your credit. Well the thought to do it – the thought-process that goes into doing it – is a tough one. It’s a tough decision. But once that’s made, and you’ve already made it by being here, then the rest of it’s easy.
We do most of the process for you. It’s your responsibility to provide us with information, to make one short appearance in court and that sort of thing. Everything else is done for you.
Then as far as your credit goes, your credit right now is not very good because you’re behind on your bills. But we have a program called “7 Steps to 720″ that’s free to all our clients. Normally it’s a thousand dollar value but it’s free to our clients and will help you get back on your feet and get your credit re-established and back to a credit score of 720 in a very short period of time. How does that sound?”
If you’re behind on your mortgage payments and are considering filing for bankruptcy, or if you have any questions, you can speak to an attorney, free of charge, by filling out the “Get in Touch” form below or by calling us at (901) 327-1212.