Every individual’s situation is different. Bankruptcy may not be the best option for you, depending on various factors. If this is the case in your situation, we will let you know and discuss this with you. We also negotiate debts settlements with creditors and debt collectors on behalf of clients. For some individuals this is a better option than filing a bankruptcy. Call us for a consultation so we can help you explore your alternatives and enable you to make intelligent choices.
We have successfully settled second mortgage accounts when foreclosure has already occurred. We have also settled second mortgage accounts in cases where the homeowner still has the house, intends to keep it, and is not in foreclosure. Call us to see if we are able to help you get rid of a second mortgage or Home Equity Line of Credit.
Yes. However there is no way of predicting with certainty if you will be sued, and when you might be sued. We keep records of every settlement we have done, and which of these creditors has filed suit; so our ablity to predict will be a littler higher than yours, but regardless, there is no way to know for sure. In the event that we represent you when you are sued, there are certain actions we may be able to take to stop or slow the suit. Once you have settled the debt you can no longer be legally sued for that same debt, or for any portion that was forgiven in the settlement. However, many times when an individual thinks they have settled a debt, they may not have actually done so. When we settle a debt we ensure that the settlement is valid and binding and we keep copies of all correspondence.
A debt can still be settled even if you have been sued, or a judgment has been obtained. Most judgements can also be discharged in bankruptcy.
Fortunately this type of scenario only occurs small a minority of the time. In this type of situation it is probably better to have an attorney sort out the situation and do the settlement so you are protected in the future from claims that the debt was not correctly settled.
Yes. Second mortgages and Home Equity Lines of Credit can be settled after a foreclosure has occurred. Unless you have discharged a junior mortgage through bankruptcy, you may still be liable for this debt.
This is a possibility and it is something we have done for a number of clients, but is substantially more difficult than settling a second mortgage after foreclosure. Call us to set up an appointment where we can evaluate the pros and cons of your particular situation.