Bankruptcy, Foreclosure Defense, loan Modification, & Debt Settlement

Sometimes life throws a curveball at you and you are faced with unforeseen circumstances. Although, you may be the most financially responsible person, sometimes unexpected things may happen like a loss of a job, loss of a business, medical bills, a reduction of hours in work, or a divorce. Unfortunately, these unforeseen circumstances can cause extreme amounts of stress, sleepless nights, and anxiety. Although, you may feel like there is no way to escape, there is! Filing for bankruptcy can get you back on your feet. Spiraling debt can not only affect you emotionally but also physically this is why it is extremely important to find help to get you back on your feet. At Karra L. Kingston Esq., we understand the emotional and physical hardship one faces with spiraling debt. We are here to make this process as simple as possible for you. Our attorneys make themselves available 24/7 to ensure that everything is done properly and efficiently. We know this is a hard time financially and many times prospective clients tell us they are not able to afford the bankruptcy fees. Fortunately, our office provides payment plans to alleviate some of the stress!

Karra L. Kingston Esq. has represented thousands of Chapter 7 individuals. The most common type of consumer bankruptcy cases is Chapter 7 Bankruptcy. In a Chapter 7 Bankruptcy the debtor is given a fresh start by eliminating their debt through a Discharge. In some instances a Chapter 7 Bankruptcy can stop the foreclosure of a home or the eviction from an apartment.

A Chapter 7 Bankruptcy can take as little as 4 months after being filed. Once a Chapter 7 Bankruptcy is filed, all creditors must cease all collection efforts against the debtor. This is called the Automatic Stay, which is implemented to stop creditors from harassing the debtor. Once the automatic stay is in place creditors must cease the continuation of any lawsuits, wage garnishments, bank levies, letters, and telephone calls.

In order to file for a Chapter 7 Bankruptcy, you must meet certain minimum requirements. One of those requirements the “means test.” The means test is a calculation used by comparing your income and expenses with those standards set for the state where you reside. Our attorneys will review and determine whether you qualify and explain in detail.

A Chapter 7 begins with filing a Bankruptcy Petition. The bankruptcy petition lists your basic information including your income, your assetks and your creditors. The petition is then filed with the court. Once the petition is filed, you will have to go to court and attend a 341 hearing in front of a trustee. Our experienced attorneys will represent you at this hearing and go over the details so that you are well prepared.

A business owner can also file a Chapter 7 bankruptcy. Our attorneys have experience representing small business owners who have accumulated debt through their business that they owe personally. It is also important to note that business entities can also file bankruptcy under a Chapter 7 bankruptcy. A Chapter 7 Business Bankruptcy is available to a business which is forced to close due to the accumulation of debt. In a Chapter 7 Business Bankruptcy, a trustee may be appointed to liquidate any remaining assets allowing the business to close without being liable for any debt.  Our experienced attorneys will meet with you and discuss all of your options.

A Chapter 13 Bankruptcy is a way for debtors who have assets, or who make too much money to qualify for a Chapter 7 to restructure their debts and pay their creditors back. Instead of being harassed by multiple creditors and having to pay back different creditors, a Chapter 13 allows the debtor to pay back his or her debts in one monthly payment plan. Thus, the debtor has the advantage to consolidate and prioritize outstanding debts while paying them back in a plan that is overseen by the court.

Many debtors file Chapter 13 in order to keep their homes when they are facing foreclosure and have too much equity to file a Chapter 7. If the debtor has the means to pay back the arrears of the mortgage and can make their regular monthly payments over 60 months, then the court may approve a plan and the debtor will be able to keep their home. 

It is a common misconception that student loans are not dischargeable in bankruptcy. Although, it is extremely difficult to discharge Student Loans, it is still possible. In order to discharge student loan debt successfully, one must show that paying the loans back would cause an “Undue Hardship.” Bankruptcy laws have failed to define the meaning of “Undue Hardship”. However, you must prove three things to get the debt discharged:

1. Making the student loan payments would keep you from being able to maintain a minimal standard of living.
2. The hardship that you face will continue throughout a significant period of your remaining loan.
3. You have made a good faith effort to repay your loans.

To do this, one of our experienced attorneys will file an adversary proceeding against the student loan company. An adversary proceeding is a separate lawsuit related to the bankruptcy. In order to determine if a student loan discharge seems right for you, contact one of our experienced attorneys and we can help you!

Bankruptcy allows consumers who are facing foreclosure, a “way out”. One of options is through a process called Loss Mitigation. Loss Mitigation is a process which allows mortgage lenders to work with buyers who are delinquent on their home loans. Doing loss mitigation through the bankruptcy court leaves consumers with an advantage because the judge oversees the whole loan modification making it less likely for banks to mislead consumers. During Loss mitigation the lender and debtor work together to get a loan modification. The judge ensures that the banks are working with the consumer and the attorney to make sure all papers are handleded diligently and efficiently. If you are facing foreclosure, please contact our office today. Bankruptcy Judges work tirelessy to make the bank offer loan modifications to individuals who can afford to keep their home. 

Loan modifications allow individuals different repayment options. Some lenders will put the arrears of a mortgage at the back end of the loan while others will spread it throughout the loan. Loss mitigation can stop the foreclosure auction of a home the day of a sale. 

There are laws in place that allow consumers to bring actions against creditors for violating the Fair Debt Collection Practice Act ( “FDCPA”) if you are being illegally harassed by third party creditors  Contact us today the creditor may be in violation of the  FDCPA.

The telephone Consumer Protection Act (“TCPA”) allows consumers to bring actions against telephone solicitations that use automated telephone equipment. Under this law consumers are protected against telemarketers that use automatic dialing systems and pre-recorded voice messages.

Under the TCPA, a person can sue for up to $500 for each violation or recover monetary loss. Whichever amount is greater. If it is found that there was a willful violation of the TCPA, a person can sue for up to three times the damages.

At Karra L. Kingston Esq., we can help settle large consumer debts. Sometimes, clients have the financial means to make settlement offers. Debt settlement is only a viable option for individuals who can meet their basic monthly necessities and settle debts. Working with a lawyer to help settle debts is advantageous. Many debt settlement companies have individuals enter into debt settlement programs who shouldn’t be in them. A lawyer can review your financial situation and determine if you should be in a debt settlement program. Our attorneys will fight to try and get you the best settlement on any outstanding debt.