Texas Foreclosure Assistance Lawyer
Are you in danger of foreclosure on your house or car? The most important step you can take is to contact a knowledgeable bankruptcy attorney immediately. The sooner we can make a plan for you, the better your chances of keeping your assets. A secured lender has the right to repossess your property if you default on your loan. If foreclosure proceedings start, filing bankruptcy will halt them and allow you to restructure the debt or make other arrangements to avoid loss of property.
What Is Foreclosure?
Foreclosure can be on a house or other property that is security for a debt. It is also called repossession, especially when the property is a vehicle. During foreclosure, the lien holder or lender has the right to repossess your property if you are no longer making payments on the loan. They may try to foreclose after only one or two missed payments. Filing bankruptcy will delay foreclosure, giving you the opportunity to restructure payments or make other plans.
In the case of car repossession, the lender is allowed to repossess it at any time after you miss a payment. Filing for bankruptcy would stop that process by giving you the benefit of the automatic stay. During this time, no collection actions can be taken against you, including repossession. This will give you a chance to modify the loan and keep the vehicle.
At your free consultation, our attorneys will tell you what your best option is, even if that means not filing bankruptcy. Beware of foreclosure scams that contact you and promise they can stop foreclosure with just a phone call. Fighting foreclosure is a complex process that takes a significant amount of work.
Contact an Attorney Today
The Law Offices of Coats & Todd understands the urgency of these situations. You are facing the possibility of losing your home. We know that seems like an overwhelming problem. However, if you take action right away, we can stop the problem before it gets worse. We help people in Plano, Richardson and across Texas file for bankruptcy. Please call our office at 972-671-9922. Your consultation is free.
