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Archive: Aug 2019

  1. Stop Foreclosure with a Bankruptcy Attorney in Chesterfield

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    Stop Foreclosure with a Bankruptcy Attorney in Chesterfield

    Just going through everyday life can bring about sudden change and adversity. If you find that having enough money becomes an issue and you are in arrears on your mortgage, it does not take long for things to escalate. You may be in danger of forfeiting your home. If you have missed three or more mortgage payments or a default has been filed against your property by your lender, your house can begin to be foreclosed on. There are ways to prevent this from happening. Learn how to stop foreclosure with a bankruptcy attorney in Chesterfield.

    • You may be able to reach an arrangement with your lender before your home is put up for auction. This is known as a foreclosure workout.
    • A buyer can purchase your home before the auction takes place. Finding a buyer yourself can avert foreclosure and saves the lender money and time.
    • Foreclosure proceedings stop immediately if you file bankruptcy. Federal law prevents collection proceedings after bankruptcy is initiated.
    • Sign your deed back over to the mortgage lender. This is referred to as a “deed in lieu,” and lenders do not usually prefer this option. There are sometimes complications that they do not want to handle. Note that a deed in lieu does affect your credit rating in a negative way.
    • Your lender may permit someone to assume your loan or lease your property. Your loan will likely have to be altered in these scenarios.

    Bankruptcy and foreclosure can be stressful and complicated. Legal specialists with the skill and experience in these types of situations and similar cases can provide welcome guidance. Contact Teague & Associates, LLC, at (314) 899-4499 to stop foreclosure with a bankruptcy attorney in Chesterfield.

  2. How To Stop Foreclosure With A Bankruptcy Lawyer in St. Charles

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    Foreclosure threats are many things: stressful, overwhelming, and frightening. If your property is under threat of foreclosure, it may seem like there are no options to delaying or preventing it from happening. Before you decide what you need to do in your situation, know that you have options. Our team at Teague & Associates, LLC, can advise you on how to delay or even stop foreclosure with a bankruptcy lawyer in St. Charles.

     

    Going to a lawyer for advice on your foreclosure is prudent. Not only can an attorney advise on you on whether to file for Chapter 7 or Chapter 13 bankruptcy to keep your home or postpone foreclosure, but they can evaluate your situation with an objective eye and keen knowledge of the law to find options that give you peace of mind in this difficult situation.

     

    Foreclosure takes time, usually several months, to complete, and that is after several failed attempts at timely mortgage payments. When you can, of course, do your best to meet your mortgage obligation. However, in the event of hardship, a bankruptcy filing can aid in relieving your debt. Filing for bankruptcy requires all creditors to temporary stop attempting to collect payments from you, which can give you time to come up with a plan and let you keep your home in the meantime.

     

    If you wish to keep your home, filing Chapter 13 bankruptcy allows you to set up a payment plan in arrears. To do this, you need to pay your past due amount at the same time as your current payment, but this is one way to prevent foreclosure and let you continue to make payments on your home.

     

    When you need carefully-considered guidance on your options in foreclosure and bankruptcy filings, you need a lawyer who specializes in these situations and stands ready to assist you. Call Teague & Associates, LLC, today at (314) 899-4499 to find out more about how you can stop foreclosure with a bankruptcy lawyer in St. Charles.

  3. How to Stop Garnishment with a Bankruptcy Attorney in O’Fallon

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    How to Stop Garnishment with a Bankruptcy Attorney in O'Fallon

    Are your financial problems getting worse instead of better? Have you done everything you can to resolve your money issues? If you have answered “yes” to these questions, it is time to get some help. Unfortunately, there are times when things happen to max out your budget, like job loss, unanticipated medical expenses or even a relationship change. These situations can quickly deplete your savings and can cause you to get behind on payments. Your debtors can file a petition in court to have some money taken out of your wages each pay period to help pay the amount in arrears. If this fits your circumstances, take steps to stop garnishment with a bankruptcy attorney in O’Fallon.

    You do have some options if your finances are uncontrolled. It may be possible to talk with your creditors to work out a repayment schedule. If the debtor agrees, they can stop garnishing your paycheck. You can also challenge the garnishment in court and claim exemptions based on your financial state. There must be documentation that identifies your failure to pay for standard living expenses if your income is reduced. This often leads to a smaller garnishment. Social security, alimony and retirement incomes are common exemptions.

    When debts are overwhelming, for any reason, bankruptcy may truly be the best option. A bankruptcy attorney can offer guidance based on your circumstances.

    Stop garnishment with a bankruptcy attorney in O’Fallon by contacting the knowledgeable legal team at Teague & Associates, LLC, at (314) 899-4499. We will be happy to make an appointment for you to sit and discuss your finances with one of our lawyers. Let us assist you with your debt problems.

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