Archive for February, 2011

Georgia Homeowners Turn To Bankruptcy To Stop Foreclosure

Monday, February 14th, 2011

Bankruptcy Editorial

January 26, 2011

Chapter 13 bankruptcy is the chosen formĀ  for homeowners seeking to delay a foreclosure, as it grants them immediate protection from collection activity by creditors, and gives them time to assess whether they can afford to hold on to their home, according to the Atlanta Journal Constitution. Under the three-to-five year plan organized under a Chapter 13 filing, homeowners may get a second chance to make the necessary payments on their home.

Forecloseclosure notice

The average homeowner in foreclosure was found to be 507 days behind on his mortgage payments.

Carolyn Secor is a Clearwater bankruptcy attorney and Clearwater foreclosure attorney serving Palm Harbor, New Port Richey, Oldsmar, Tarpon Springs, Seminole, St. PetersburgĀ and the Tampa Bay area.

If you would like more information on our practice, please consult our website at: www.bankruptcyfortampa.com

What Is Reaffirmation?

Monday, February 7th, 2011

What Is Reaffirmation?
article from National Criminal Justice Reference Service

Reaffirmation is a procedure by which you agree to pay a debt that would otherwise be discharged in bankruptcy. You may wish to keep your car, and thus may agree with your lender to continue to be responsible for the car loan. If you make the choice to “reaffirm” a debt, you will file a reaffirmation agreement with the Court, which will evaluate that agreement. It is up to the Court whether or not the agreement will be approved. Before a Court will approve a reaffirmation agreement, it must believe that the agreement:

gavel and dollar

Is voluntary;
Is in your best interest; and
Will not create an undue hardship.

You may be able to cancel a reaffirmation agreement, within sixty days of filing it with the court, or before your bankruptcy petition is approved. Be cautious with reaffirmation, as you will continue to owe the debt as if you had never filed for bankruptcy.

Carolyn Secor is a Clearwater bankruptcy attorney and Clearwater foreclosure attorney serving Palm Harbor, New Port Richey, Oldsmar, Tarpon Springs, Seminole, St. Petersburg and the Tampa Bay area.If you would like more information on our practice, please consult our website at: www.bankruptcyfortampa.com
or call (727) 254-1704.