Do You Really Need an Attorney during Foreclosure?

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<h1>Do You Really Need an Attorney during Foreclosure?</h1><strong> Author: <a href='http://www.articleseen.com/profile_Christy Thompson.aspx'>Christy Thompson</a></strong><br /><p>Do I really need an attorney because I get a lot of advice from friends? You know, that makes so much sense because people chat about this all the time. I would say probably close to 80% of my clients are home owners. Neighbors talk. And please talk to one another. Colleagues, talk to one another. And this is the big issue. Where does foreclosure end and where does the bankruptcy begin and what can you keep in bankruptcy and what can’t you keep in bankruptcy? A lot of concerns, of course, are about your house. Can I keep my house in bankruptcy? The answer is you can, providing you’re current. So the myth that you can’t file bankruptcy and keep your house is not true. But I have so many clients who come in and have said, “You know, I talked to my friend. I talked to my neighbor, and he’s telling me that I simply can’t keep my house if I file. So I’m terrified of filing.” And really, if you are current on your house, you can certainly keep it. Again, if you use the funds that you have. Sit down, do a budget for yourself, figure out is it in your best interest and your family’s best interest to keep the house. Now if you’re behind on that mortgage and it is debts that are bothering you that you can’t get on top of, take those funds that you would’ve paid towards those debts, apply them to the house, and then file bankruptcy. Because if you’re current when you’re filing bankruptcy, you can keep your house. In fact, you can keep your cars. The same concept. If you’re current, you can keep your vehicle. And you can keep all of your personal belongings. There are quite a few exemptions…that’s what they’re called in bankruptcy law…things that are exempt. So your house, even if you have equity, you have up to $150,000 in equity and it’s protected, if you’re a single person, you could have up to $4000 in personal belongings and keep them. If you’re a couple, you get double that amount. You get $8000. People can keep their vehicles if they have loans on them. If they don’t have loans on them but they have a value of up to $5000, they can keep them. And again, a couple can have two cars for a total of $10,000. People have that question all the time. I think it’s great to have friends, but you really should be asking an attorney, an experienced attorney in bankruptcy, what it is that can and cannot be kept. And that’s where those questions should be coming from, not necessarily from your neighbors or friends.</p><strong>About the Author:</strong><br />To get additional information on debt settlement and bankruptcy options please visit our web site. We would also like to offer you a free online debt evaluation. You can claim your free online debt evaluation at <a rel="nofollow" href="http://arizonalegaladvocacy.com"> http://arizonalegaladvocacy.com</a>. <b>Christy Thompson</b>, your <a rel="nofollow" href="http://arizonalegaladvocacy.com"> Chandler Bankruptcy Lawyer</a>.<p> Article Source: <a href='http://www.articleseen.com/Article_Do-You-Really-Need-an-Attorney-during-Foreclosure_45870.aspx'> http://www.articleseen.com/Article_Do You Really Need an Attorney during Foreclosure?_45870.aspx</a></p>

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Keywords : chandler bankruptcy lawyer, chandler bankruptcy attorney, mesa bankruptcy lawyer, mesa bankruptcy attorney, gilbert bankruptc,

Category : Finance : Mortgage