San Diego Bankruptcy Lawyer – Chapter 13 Debt Relief
As a San Diego bankruptcy lawyer, we see clients all the time that seek Chapter 13 debt relief due to a foreclosure. Most of the time they are doing everything they can to catch up on past mortgage payments while struggling to make the new ones. Unfortunately, lenders don’t care about your financial hardship so they initiate a foreclosure proceeding.
When a consumer gets a Notice of Default or Notice of Sale, it undoubtedly gets their attention. The astute consumer will immediately call an experienced San Diego bankruptcy lawyer to discuss the possibility of Chapter 13 debt relief. The next thing you should do is contact your mortgage company to discuss delaying any possible foreclosure.
One of the things you need to watch out for is when you phone your mortgage company, you must get a written commitment that the foreclosure will be delayed. This is even more important if there is an agreement merely a day or two before the proposed sale date. Many time the lender’s representative will give you a verbal commitment, over the phone, that the sale date is extended by 30, 60 or 90 days.
As a San Diego bankruptcy lawyer, I can tell you that the law in this area is murky at best. We have found some law that allowed the debtor to rely on the promise of the lender and seek money damages. But, the property was sold at the foreclosure auction and the court refused to reverse the sale. The only question at issue was if the debtor could recover money damages. This is not the result you want if you are trying to save your home.
When your largest asset is at risk, you do not want to rely on the verbal promise of your lender. You should ask your Chapter 13 debt relief lawyer to draft a letter memorializing the agreement and to request a response, in writing, from the lender. You will be glad you did.
At the Law Office of Harold D. Thompson we have been servicing San Diego and all of Southern California’s legal needs since 1976. When creditors are harassing you and are threatening foreclosure, you need a San Diego bankruptcy lawyer that will fight for your rights. Our Chapter 13 debt relief plans can save your home. Call our office today at 619.615.0767 for a free consultation or visit our other websites San Diego Chapter 13 Attorney, Orange County Chapter 13 Lawyer or Riverside Chapter 13 Debt Relief.
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- San Diego Foreclosure Lawyer: Remove Your Second Mortgage Through A Chapter 13 Loan Modification Before Home Values Increase
- Bankruptcy, Short Sale or Both?
- San Diego Bankruptcy Attorney: San Diego Foreclosures and Bankruptcy
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