Foreclosure:

 


Student Loan Relief:

Many options are available for relief from Student Loans for qualified individuals.  Make an appointment today for our FREE Consultation and discover YOUR options.
Client Preparation for Free Consultation:
a) Credit Report – www.annualcreditreport.com
b) Loan Type Identification – www.nslds.ed.gov
c) Income  – Monthly income


Business

  • Start up – partnerships, corporations, LLC, non profit
  • Contracts
  • Sale

We have decades of experience in the business arena in all forms and phases of startup through sale. Consult with us at the inception of your business to launch with a solid foundation in the most advantageous format for your business purpose.


Bankruptcy:

Catherine King provides both Chapter 7 and 13 services for her clients.

When you come in for a consultation, certain information will be asked of you.  For an initial consultation, a general knowledge of your income, expenses and debts is typically adequate to make an assessment of your options.  However following our initial consultation, to proceed with a bankruptcy, either 7 or 13, much more detailed and specific information will be required of you.  We will need documents such as your paystubs, tax returns, bank statements and a questionnaire wherein you disclose the various details of your financial life over the past several years.  All of this information comes together in a petition which is filed with the Court and overseen by a Trustee appointed by the Court.

Catherine enjoys her work and enjoys meeting with and responding directly to her clients.  She is available to respond to your questions, by phone or email, as often questions come up during the process.  She will attend your court appearance with you and provide every reassurance that all will be well through the process!

EXPLANATION OF CHAPTER 7 AND 13

CHAPTER 7 is a “liquidation” bankruptcy which allows all of your debts to be wiped away.  You retain certain assets which are “exempt” or not included. The remaining assets (if any) are applied towards retiring the liabilities.

CHAPTER 13 is a “wage earners” bankruptcy where a plan is established allowing you to repay some or all of your outstanding debt over a period of time (usually 3-5 years) while staying current on your other obligations.

As soon as you file, you receive an “automatic stay” preventing collectors from pursuing you for your debts; typically for the duration of the bankruptcy.  That means that during the bankruptcy your lender may not foreclose against you and creditors may not call or sue you to collect the debts.  If your creditors contact you, they may be in violation of your legal rights and liable for monetary damages.


BASIC REQUIREMENTS TO FILE BANKRUPTCY

a) Petition, Schedules and Statement of Financial Affairs – The initial pleading provides the trustee and creditors with a financial snapshot of your current situation on the filing date. These papers describe your assets, liabilities, monthly income and monthly expenses.
b) Must File Last Four Tax Returns – A new requirement to file under BAPCA (bankruptcy laws) is up-to-date federal income tax filings for at least the last four years. A copy of the last year’s tax returns must be submitted directly to the trustee. Don’t worry if you cannot find your returns for the last four years.  We can order tax transcripts directly from the IRS.
c) Credit Counseling – A new Provision under BAPCA (bankruptcy laws) requires that a debtor receive credit counseling within the six month period prior to filing a bankruptcy petition. The credit counseling agency must be approved by the U.S. Trustee’s Office. The certificate of credit counseling is filed simultaneously with the bankruptcy petition. The cost for credit counseling is approximately $50 per person ($100 per couple). However, we have a relationship with an approved credit counseling agency to provide our clients these services at no charge.
d) Debtor Education – Prior to receiving a discharge in bankruptcy but after the case is filed, debtors must complete a debtor education program. The debtor education provider must be approved by the U.S. Trustee’s Office. The certificate of completion is filed with the bankruptcy court. The cost for the approved program is approximately $50 per person ($75 per couple).


FAIR DEBT COLLECTION IS YOUR LEGAL RIGHT

There are lawyers who will tell you not to worry about the phone calls, letters and credit report hits. They will tell you that it will all stop eventually. Some lawyers will advise you to send a copy of the bankruptcy papers in order for the madness to stop, while your stress continues and your time is wasted.

The truth is creditors and collection agencies acting outside of the law can be held accountable to you financially. These collection agencies will also attempt to use your credit report as collateral in an attempt to try and continue to collect.  This too is illegal. King Law Offices stand behind out clients to ensure your rights and credit are protected by the law. Clients may receive monetary damages against agencies acting illegally and impacting your finacial status by:

  • keeping you credit score low
  • reducing chances of qualifying for a new home, car, or credit cards
  • affecting your hiring potential with job opportunities lost
  • negative credit that can increase your auto insurance

We stand behind you in the courtroom against bill collectors who break the law. We can help you stop their illegal tactics and require them pay you for their mistakes.

Do not allow bill collectors to break the law and prevent you from a fresh financial start. We are can help!

The bankruptcy code includes measures to stop foreclosures, garnishments, repossessions and reduce your debt while you regain financial stability.


CAN I REALLY FIGHT MY FORECLOSURE?

If you have been served with a Notice of Default and/or Notice of Trustee’s Sale to foreclose on your home, you have many options.  First, you can negotiate with your mortgage company to reinstate the mortgage.  Secondly, you can file a Chapter 13 bankruptcy which places a hold on the foreclosure process.  Thirdly, you can sell your home or attempt to refinance.  Fourthly, you can give up and get out of your home.  Finally, you can fight the foreclosure.

The first two options assume that you can afford your current monthly payment, while selling  or refinancing your home may be impossible if you have little equity or even negative equity.

Many homeowners, especially those with subprime mortgages, can no longer afford the mortgage payments, even if the mortgage were current.  That makes a Chapter 13 bankruptcy impossible.  Even if you are behind on your payments, and cannot afford the current monthly payment, KING LAW OFFICES can help you fight the foreclosure.

While you are litigating the foreclosure case, you are not required to make your normal monthly mortgage payments. The legal process will afford you time to reinstate the mortgage, sell your home, file a bankruptcy or move out.  You may even be able to force the lender to completely rewrite the terms of your note and mortgage, enabling you to keep your home.

This may sound too good to be true, but you may actually have valuable defenses and counterclaims against your mortgage company that could prevent foreclosure and require your lender to pay you damages.  Across the country, judges are holding mortgage companies accountable for incomplete record keeping and violations of the Truth In Lending Act.  You may be able to salvage your home if you have valid claims including fraud and Truth In Lending Act violations.

At King Law Offices we are committed to providing hope and help in the challenging economic situations you may be facing.  If you are a Shasta or Tehama county resident, contact us today for a free consultation with an attorney certified in the Fair Debt Collection Act; you may be surprised to find your financial situation in better shape than you thought!