In danger of losing your house or your vehicle? We can intervene quickly, even if the lender has already started proceedings to repossess. Do not wait until it’s too late. The Hedtke Law Firm offers a FREE consultation at three locations:
West Covina • Upland • Moreno Valley
In almost all cases, as soon as you file for bankruptcy an automatic stay is entered. Pending foreclosure and seizure actions stop, even if a sheriff’s sale has already been set. To protect your home, you will be required to pay the monthly mortgage payments that come due after filing.
The Hedtke Law Firm will crunch the numbers and sit down with you to help you decide if you can realistically afford to keep your home. (If not, we can discuss your options to surrender or sell the property.) Call the Fontana office at: 909-457-0054
Chapter 13 bankruptcy may be the best solution for saving your car or truck. Repossession protects against repossession as long as you continue paying for the vehicle or pay the vehicle in your Chapter 13 Plan.
(1) You continue making the original payments until the vehicle is paid off, with any arrears included in your Chapter 13 or you can sometimes pay only the present value of the vehicle at a reduced interest rate through your Chapter 13 Plan.
(2) The “cram down” law applies if you have owned the vehicle for 910 days (2 1/2 years) or more. You would be required to pay only the current retail replacement value of the vehicle, instead of the full balance of the debt, quite possibly saving you thousands of dollars. Additionally, in most cases, the interest rate can be lowered.
Did you know? California severely restricts “self-help” repossession. The lender or car dealer cannot hire a “repo man” to take your car in the dead of night without first complying with California’s very restrictive self-help law or one of the other methods of legally taking your vehicle.
Regardless of the method, we usually can get your vehicle back to you by filing a Chapter 13. It is important you consult with us as soon as possible after the seizure.
If you fail to make mortgage payments on a home in California, your lender will likely notify you that it is foreclosing on the property. A lender must notify you of the intent to foreclose via mail and provide a minimum of 20 days for you to pay the default amount on the loan. If you do not respond, or the matter is not resolved, the lender will send a second letter stating that the full amount of the loan is due and a sale of the property has been scheduled to cover the balance.
Hedtke Law APC, in Fontana helps many individuals and families stop foreclosure and remain in their home by filing bankruptcy. Often, this is accomplished by filing Chapter 13 bankruptcy, which enacts an “automatic stay” that prevents a lender from selling your home. It is necessary in Chapter 13 bankruptcy to have an income steady enough to resume making monthly mortgage payments and catch up on missed payments over a three- to five-year period.
It is less common for individuals or families to remain in their home when filing Chapter 7 bankruptcy. Although California bankruptcy exemption laws allow a homeowner to keep 100 percent of the equity in a home (with some limitations on size of the home), unless you can pay the missed payments and remain current on the mortgage going forward, the lender still can, and likely will, foreclose.
I am attorney Neil Hedtke, and my commitment to each of my clients means taking the time upfront to fully understand your objectives. You will work directly with me from the initial consultation through the resolution of the case. I will take the time to explain every option as well as its short- and long-term consequences.
I will do everything I can to help you save your home. If that is not possible, however, I will tell you as much and lay out alternative solutions. Surprises are the last thing you need as you reset your financial life.
Contact the firm to meet with an experienced and knowledgeable bankruptcy lawyer. You can get answers to your questions during a free consultation as well as recommendations on the best steps to take. Call the Fontana office at: 909-457-0054
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
To schedule a free consultation, please call Hedtke Law Firm today at our Upland office at: 909 579-2233 or Covina office: 626 521 5488 or Fontana office at: 909-457-0054