We are remaining open to serve our clients’ needs during this uncertain time. We are offering free initial phone consultations. We offer all of our services electronically so we can keep our clients and our staff safe. Stay safe and well!
In a Chapter 7 bankruptcy, you can redeem secured property by paying back your creditor the actual value of the item. If the value is substantially less than what you owe, this could be a good option for you. Read our full blog to learn more about property redemption in a Chapter 7 bankruptcy.
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Redeeming Property in a Chapter 7 Bankruptcy
As I was drafting an adversary proceeding (lawsuit in bankruptcy) today it occurred to me that some people may not be aware of the power of Chapter 13 bankruptcy.
Did you know that sometimes we can strip (or erase) a second mortgage in Chapter 13 bankruptcy? You read me right! Sometimes we can actually erase a second mortgage in bankruptcy without paying any money to that creditor.
But how? Great question! The Bankruptcy Code allows debtors in Chapter 13 to erase a second mortgage if there is no equity above the first mortgage to secure it. This means that if a house is worth $100,000 and there is a first mortgage for $110,000 then we could erase the second mortgage.
Chapter 13 bankruptcy does amazing things for people every day. That is why it is so important to hire an experienced attorney who can help guide you through the bankruptcy process. If you are considering filing bankruptcy call the Law Office of Kimberly A. Sheek at 704-842-9776 for a free initial consultation.
We have the best clients. One of our clients sent flowers today to thank us for all we do. It definitely brightened up our day!
My favorite part of the job is being able to help my clients get back on their feet.
A little snow at the Law Office of Kimberly A. Sheek doesn't scare us from helping our clients. We are here to serve you!
This is a great time to get your finances in order while we wait for the election results! Call the Law Office of Kimberly A. Sheek at 704-842-9776 for a free bankruptcy consultation today.
The VA has extended the foreclosure & eviction moratorium through 3/31/2021. Chapter 13 is a great option for many who have returned to work but need to catch up on their mortgage payments. Call the Law Office of Kimberly A. Sheek at 704-842-9776 for a free initial consult.
I often refer to Chapter 13 bankruptcy as magical. For example, did you know that for many Americans Chapter 13 can actually reduce the interest rate on your car loan? That's right! Chapter 13 can reduce the interest rate to make your car loan more affordable. Call the Law Office of Kimberly A. Sheek at 704-842-9776 for a free initial consultation to learn more.
