Download Our Free Book: The California Guide to Bankruptcy

As a San Diego Chapter 13 attorney, we know you have questions.  Not sure if bankruptcy is right for you?  Have questions about bankruptcy in California but you don’t know where to find the answers?  If you have ANY questions about the process you owe it to yourself and your family to download a FREE copy of our book The California Guide to Bankruptcy.  This book was written by our award winning lawyers who have helped thousands of people, just like you, regain their financial freedom.  The book covers the options you need to consider when filing bankruptcy in San Diego.

California Guide to Bankruptcy

Since opening this firm in 1976, I have met with thousands of San Diego families and small business owners who need help dealing with their debt. Fortunately, I have been able to most of them out of sticky situations.  In fact, I have never had a Chapter 13 case filed that was not approved.  That’s right, 100% of the Chapter 13 cases I have filed have been approved.

But, maybe bankruptcy is not right for you.  You will never know, though, unless you get informed.

Chapter 7 and Chapter 13 bankruptcy can be extremely complicated so I decided to write a book that provides an overview of the San Diego bankruptcy process.  I think that this book will be a helpful resource to any person who is considering filing for bankruptcy protection.  The California Guide to Bankruptcy contains a wealth of valuable information but should not be used in lieu of speaking with an experienced bankruptcy lawyer.  Get the book then call me, Harold D. Thompson, at 888.590.1773 to set up a free no hassle consultation.

Don’t Be Fooled By The Loan Modification Process – A San Diego Chapter 13 WILL Help

As a San Diego foreclosure lawyer one of the most common mistakes I see homeowners make is trying to do a loan modification BEFORE filing a Chapter 13. This is a mistake.  First, let’s talk a little bit about your particular scenario.  You own a home and have fallen behind on your mortgage payments.  You probably have some unsecured debt like credit cards.  You probably also have tried to get a loan modification in order to lower your monthly payments.  The problem is your lender keeps dragging the process out or keeps promising that the modification is “just about to go through” but it doesn’t.  Do you know what can help each and every one of these situations?  Chapter 13 bankruptcy.

Even if you have already filed a Chapter 7, you can convert that into a Chapter 13 and save your home while eliminating debt.  A San Diego Chapter 13 allows you to catch up on delinquent mortgage payments over a three- to five-year repayment period.  During this time you will make payments directly to the bankruptcy trustee assigned to your case.  Your mortgage lender will be prevented from selling your home as long as you are current on your Chapter 13 plan payments

The biggest obstacle I see is the client being able to afford the mortgage payments going forward as well as making the Chapter 13 plan payment.  If you are in this situation a loan modification can help reduce those future loan payments.  But you have to do it AFTER you file Chapter 13.   Here’s why:  lenders are more likely to approve a loan modification when the client is consistently making monthly payments on the Chapter 13 bankruptcy plan.  This is a good risk for them.  They want you to make the payments.  They do not want your house.  If your other debts have become affordable and they can keep getting mortgage payments from you (albeit a little bit smaller) they are going to do it.  Trust me, I see it ALL the time.  Let’s see if we can’t make it work for you!

At Thompson|Wedeking our award winning lawyers have been helping individuals, just like you, since 1976.  If there is a way to save your home from foreclosure we will find it.  Call one our San Diego Chapter 13 lawyers at 888.590.1773, download a copy of our California Guide to Bankruptcy or email Harold D. Thompson at HDT@ThompsonLawSD.com.

A San Diego Chapter 13 Can Save Your Home

As a San Diego Chapter 13 lawyer, I want to explain to you a little bit about the process of saving your home.  But first, let’s talk basics.  Under a San Diego chapter 13 bankruptcy, the debtor sets a repayment plan the the bankruptcy trustee proposing to pay off part of his or her debts.  You can utilize a Chapter 13 to prevent foreclosure on your home, catch up on missed car payments, catch up on missed mortgage payments, stop collections and much much more.  If you stick to the terms of your Chpater 13 repayment plan, your remaining debt will be discharged at the end of the plan period.  Chapter 13 in San Diego is generally for those who have a steady income and want to retain valuable assets.  That brings us to the topic of this post – saving your home.

For most people, especially in San Diego, their home will be the most significant purchase they make.   You worked your entire life to provide the best possible life for you and your family and financial troubles are just going to take away that dream?  Not if I can help it!

A Chapter 13 allows you to roll all of your missed mortgage payments into the bankruptcy plan.  I know people who have gone YEARS without making mortgage payment that were able to save their homes in Chapter 13.  The most important thing is that you get to keep the equity in your home.  With housing prices on the rise, many homeowners in San Diego are actually seeing positive equity.  You don’t want to lose that!  That equity is an investment for you and your family.

Even if you are not seeing positive equity now you are likely to in the future.  Further, if you have a 2nd mortgage, we may be able to totally get rid of it under a “lien strip.”  (Look here and here).  Don’t make a poor financial decision because you think there is nothing you can do.  It costs you NOTHING to consult with one of our award winning bankruptcy lawyers.  If you don’t it might cost you EVERYTHING!.

The lawyers at Thompson|Wedeking have been helping homeowners save their property since 1976.  Don’t trust your case to some recent law school graduate or paralegal.  Doesn’t your family deserve better?  Contact us today at 888.590.1773, download a copy of our FREE California Guide to Bankruptcy or email Harold Thompson at HDT@ThompsonLawSD.com

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