At Hirsch Law, we believe that educating prospective clients is the foundation for a successful bankruptcy filing. Click on the questions below to learn how bankruptcy can protect your home, car, wages, and more. We make it a priority to ensure that each of our clients feels Louisville Bankruptcy Lawyer respected, heard, and understood.

 

Our Attorneys Are Knowledgeable In Multiple Areas Of The Law

 

Banks typically want sell the property quickly, for as much money as possible. This law firm website and legal marketing are managed by MileMark Media. Foreclosure can happen out of the blue- a sudden job loss or a financial burden making it impossible to pay our mortgage. Saving homes and other property from potential foreclosure is a specialty of our firm that is highlighted through our growing number of successful foreclosure defense cases. Three Federal Banking studies prove the rich use the code to increase their wealth.

 

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If you qualify for Chapter 7, you can discharge some or all of your debt load. It also provides for an automatic stay of all legal proceedings, including foreclosures, that go into effect immediately. Foreclosures damage your credit score for years and will leave you with your mortgage debt.

 

We constantly strive to create and improve upon a workflow process that reduces the amount of time it takes for our client to recover its asset, but without sacrificing the quality of the process. Under a loan modification, borrowers and lenders can negotiate new terms of a mortgage. If the lender agrees, this can take place whether or not you are current on your payments, late, in default, have filed for bankruptcy, or are in foreclosure. Another viable solution is to try to negotiate loss mitigation with your mortgage lender. Ideally, you could call them as soon as you realize you might have trouble paying your mortgage. In fact, the sooner you call, the more time you give yourself to find a solution with the lender.

 

A Kentucky property owner has only twenty days after service with the complaint to file the answer. A default judgment happens when Defendant fails to file a response. You may or may not be allowed additional time to file your response by showing a reason for the delay.

 

Because Chapter 13 bankruptcy creates a repayment plan for your debts, you may have more assets available to do so. However, the lender can then file a Motion to Lift the stay on your foreclosure, and probably will. Because a Motion to Lift is often hard to fight, Chapter 7 bankruptcy will probably only delay foreclosure. The only way to avoid a Motion to Lift is to catch up on your payments, which may be possible if you don’t have to worry about your other debts. If the foreclosure sale of your home is coming up quickly, you can stop the sale by filing for bankruptcy. Filing for bankruptcy creates an “automatic stay,” which will halt the foreclosure.

 

Kentucky Solutions talked with my mortgage company and made all the arrangements for me so I wouldn’t lose my house. As wonderful as they are, I hope I never need their services again. Our family was facing foreclosure and Kentucky Solutions was able to buy our house even though we had no equity. Our lawyers can handle development projects through all phases.

 

Let’s say you have fallen behind on your mortgage payments, but the foreclosure process has yet to officially start. The servicer of your mortgage can begin to charge fees during this time. Some examples of these fees include late fees and inspection fees. However, your lenders are also required to send you a breach letter, as well as inform you of how you can avoid foreclosure.

 

During bankruptcy, the homeowner can again try a loan modification or workout. If you’ve already completed your bankruptcy filing, the discharge of your other debts may mean the bank will be more likely to approve your loan modification. With a Chapter 13 bankruptcy, a payment plan will help you be current on your mortgage again after a period of three to five years.

 

If the couple is married they can each file a Chapter 7 delaying it a year. At O’Bryan Law Offices, our attorneys educate individuals and families across Kentucky and Southern Indiana on their options to pursue debt relief and asset protection. With over 50 years of combined experience, we offer one-on-one guidance throughout an uncertain time. If you are dealing with a foreclosure, you will have to decide if you want to fight it and if it will be worth it to pay for an attorney’s help.