October 22, 2010

What is the Automatic Stay in Regards to Foreclosure?

A Sacramento bankruptcy attorney defines an automatic stay.

When you file for bankruptcy, the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity. Especially if you are at risk of being evicted or being foreclosed on the automatic stay is a powerful reason to file for bankruptcy.

Bankruptcy will likely give around 2 months before the home is subject to relief from automatic stay. The lender will request the court to remove the property from protection of the automatic stay. The requirement for relief from stay is delinquency in payments. After relief from automatic stay the home is then set for sale.

A chapter 13 allows for the restructuring of debts per a proposed plan. Here a borrower can use Chapter 13 to cure the amount they are behind on while paying the ongoing home loan payment all while being protected by the automatic stay.

Please do not hesitate to contact us at our Sacramento office by calling 916.792.6025 or for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Bankruptcy Law Firm office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Bankruptcy Law Firm's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at Sacramento can assist you with all aspects of your bankruptcy case. We at Bankruptcy Law Firm can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

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June 4, 2010

Relief From Automatic Stay

A Sacramento bankrutpcy lawyer defines Relief From Automatic Stay

Relief from automatic stay occurs where creditors or other parties in interest can be protected by requesting relief from the automatic stay where their property is not being adequately protected. Property under protection of the automatic stay may be diminishing in value or the lender may not be compensated for the depreciation that occurs over time.

In order to be granted relief from stay is it important to know the special code provisions, special bankruptcy rules, and the special local rules which pertain to relief from stay motions. Apart from these standard and localized rules are fundamental requirements that every relief from stay motion must satisfy.

Relief from stay granted for cause occurs where the borrower is not making payments. Monthly contractual payments are in theory equivalent to the amount of depreciation of the collateral for that month. So when a borrower is delinquent the lender’s property is depreciating while no compensation is being provided.

Relief from stay is granted where there is no equity in the property and it is not essential to an effective reorganization. If the amount owed exceeds the value of the property no equity exists that would protect the lender’s interest during the bankruptcy. The property must also not be essential to effective reorganization.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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June 2, 2010

What is the Automatic Stay?

A Sacramento bankruptcy attorney explains the Automatic Stay in bankruptcy...

The automatic stay (stay) is provided for by the Bankruptcy Code. Its effect is to impose a wide prohibition on all activity to collect pre-filing debts from the bankruptcy filer or to asset claims against the bankruptcy filer based on pre filing property.

The stay is essential to the fresh start and the even handed treatment of creditors. By halting collection activity by creditors the stay prevents the depletion of the filer's assets and preserves them for either surrender or retention by the filer.

In addition to preserving the estate, the stay gives the debtor sanctuary from creditor pressure so that an orderly case can be arranged. Once the bankruptcy case is closed the stay ends.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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100% Money-Back Guarantee from Sagaria Law

If the courts do not accept your bankruptcy filing because of an error on our part, we will refund 100% of your money, including the filing fee!

At Sagaria Law, PC we want to guide you on the path to financial freedom and realize this is not an easy task for most. We respect your devotion to better your circumstances even with financial hardship and thus are willing to guarantee that if you retain us, we will do everything we can, legally and ethically, to help you become debt-free.

The Fine Print

The Sagaria law guarantee covers everything that a bankruptcy law firm produces in order to successfully complete a bankruptcy filing. We guarantee that it will be done in a manner that is accepted for filing with the bankruptcy clerk's office.

There may be reasons beyond our control that may cause a case to be dismissed. Therefore, the 100% Money-Back Guarantee does not guarantee;

  1. That you will receive a discharge.
  2. That you will receive a discharge of all debts or of any particular debt.
  3. That your case won't be dismissed for reasons not related to the paperwork being accepted for filing.
  4. That you, our client, will successfully complete all of your obligations including accurate disclosure of debts, completing your forms on time and attending your 341 meeting as scheduled.
  5. That you will not lose assets in chapter 7, or that creditors won't successfully argue for the repossession of collateral in chapter 13.
  6. That you will not encounter challenges of any kind to your bankruptcy case.

Take advantage of this offer. Get started now by completing your FREE online bankruptcy evaluation, accessible from our home page.

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