Modesto bankruptcy lawyers have helped thousands deal with the economic downturn by seeking the fresh start that can come with bankruptcy protection. With the economy the way it is the last few years, many of us have had to take the necessary measures to keep our heads above water in order to protect our families. These steps have led to maxed out credit cards, bad credit, overdrawn accounts and unpaid mortgages or loans. The help of a bankruptcy lawyer can help you save your home from foreclosure and give you a clear vision on the right course of action to take.
Banks and lenders are continuing to take advantage of individuals who suffer from hardships and who can't make ends meet. The Modesto Bee recently reported about several cases of soured plans to build and develop northern Modesto. Multi-million dollar debts can't be paid, which have led to civil lawsuits and court dates. Westamerica Bank has captured one large development property after going to a foreclosure auction recently. Another 36 acre property was scheduled for foreclosure but the over $11 million debt was delayed when the developing company filed for bankruptcy the afternoon before the auction was to take place.
The state of California reported over 255,000 filings for bankruptcy in 2010. The filings per capita rate was 6.90 per 1,000 people. The ratio breakdown of filings were 76 percent filed to be discharged of all debts (Chapter 7) and 24 percent filed to pay off the debt under a three to five-year plan (Chapter 13). In 2010, there were over 500,000 projected foreclosures in California. It is estimated that during 2009 through 2012, there will be almost 2 million foreclosures.
Chapter 7 and Chapter 13 bankruptcy are option to help consumer gain a fresh start. Most homeowners may not know that it is possible to keep your home after filing for bankruptcy in Chapter 7 or Chapter 13. Furthermore, creditors can be fined for imposing or violating your rights if they continue to harass you about collecting on owed debts after you file. Determining which chapter and filing for bankruptcy can be a complicated process so having an experienced attorney who can monitor the situation and help you make the right decisions should be a top priority for any individual facing financial problems.
If you are on the verge of losing your house or are buried by unmanageable debt, contact the experienced bankruptcy lawyers in Modesto or Stockton at the Law Offices of Ben Roberts for a free case evaluation. Call 1-209-522-7500 today.
