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Orange County Bankruptcy Lawyer, Santa Ana Bankruptcy Attorney

Orange County Bankruptcy Lawyer & Santa Ana Bankruptcy Attorney

STOP COLLECTION CALLS NOWOrange County Bankruptcy Lawyer - Norma Duenas at Desk




2112 E. Fourth St. Ste. 103
Santa Ana, CA 92705
Phone: 866-337-7220

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Our Orange County Bankruptcy Attorney is an experienced attorney in handling Chapter 7 and Chapter 13 consumer bankruptcy cases. Like many other regions through the U.S., Orange County has experienced an increase of unemployment, home foreclosures, and house value declines. As a result, many individuals have had to seek the legal assistance of a bankruptcy attorney. Our founding attorney, Norma Duenas, has experience in working with Orange County residents to eliminate their unsecured debt, stop the foreclosure of their homes, stop an eviction if filed in time, stop embarrassing wage garnishments, stop creditor lawsuits, and stop the harassing creditor calls. Our attorney will provide you with a free initial consultation and answer any questions you may have about filing for bankruptcy.

Call now to setup a free initial consultation with our Orange County bankruptcy lawyer Norma Duenas. During your initial evaluation our attorney will review your case and assess your situation. The initial consultation will ensure that our attorneys can gather valuable information to assess your situation accurately.

We can successfully help stop creditor calls, get rid of credit card debt and medical bills, stop foreclosure, and stop garnishments. Many people wait to consult with a lawyer about their financial situation until they are being sued or garnished by a creditor. If you are having financial difficulties, you should consult with an attorney early to learn about your options. Consulting with an attorney early avoids you finding yourself in an emergency situation where you are being sued by a creditor or being garnished and do not have the funds to pay to file for bankruptcy. We will provide you with an affordable payment plan and low fees to file for bankruptcy. Attorney Norma Duenas

Once your bankruptcy case if filed the automatic stay will stop creditors from calling you, filing a lawsuit, and placing liens on your home or personal property. Call us today to set up a free consultation.

Bankruptcy Can Save Your Orange County Home

Many Americans struggle each month to make their mortgage payment. If you find yourself in a home you can no longer afford, the federal bankruptcy laws can provide a legal means to save your home on terms you can afford.

A Chapter 13 bankruptcy is commonly used to “catch up” home loan payments or pay delinquent real estate taxes over time. The Chapter 13 debtor proposes a repayment plan to pay any arrears over three to five years. Once the debtor’s plan is confirmed by the bankruptcy court, it becomes a federal court order and the creditor is bound by the terms of the Chapter 13 plan. The creditor cannot foreclose or otherwise collect on its debt during the bankruptcy. However, the debtor must pay all future mortgage payments, or the lender may seek permission to foreclose.

Lien stripping is another powerful tool in the bankruptcy attorney’s arsenal. It is important to note that current law prohibits bankruptcy court judges from changing the interest rate, length, or amount owed on a home loan. However, Chapter 13 does allow a bankruptcy judge to strip away an entirely unsecured second mortgage lien. Lien stripping is useful for an individual who has multiple mortgages, and the value of the property is less than the amount owed on the first mortgage.

For example, let’s say you purchased your home three years ago for $500,000, paid a cash down-payment, and obtained two mortgage loans. After three years of payments you now owe $405,000 on the first mortgage and $70,000 on the second. Unfortunately, property in your area has depreciated and your home is now worth $400,000. During a Chapter 13 bankruptcy case a bankruptcy court can strip away the second mortgage lien because it is entirely unsecured by your home (i.e. the value of your home is not more than the first mortgage debt). The stripped second mortgage is reclassified as unsecured debt and is discharged along with other unsecured debt at the end of your bankruptcy case.

Lien stripping is not available if the second mortgage is secured by the value of the home by any amount. Consequently, lien stripping largely depends on an accurate appraisal of the property. Lien stripping is especially useful to homeowners who have Home Equity Lines of Credit (HELOC) secured by a second mortgage on their primary residence, or homeowners that purchased a home using 80/20 loan financing.

While the bankruptcy process cannot modify the terms of a home loan, the negotiating power between the debtor and the mortgage lender shifts once a bankruptcy is filed. The debtor may apply for one of the federal government’s Making Home Affordable programs, or simply deal directly with the lender to modify mortgage terms. Your lender is likely to pay special attention to a modification request from a bankruptcy debtor. The lender is acutely aware that many debtors use bankruptcy to walk-away from their mortgage obligation leaving the lender with no recourse against the debtor. In this situation the lender may work diligently to modify the terms of your home loan(s) to keep you obligated on the home loan.

Orange County Location

Our office is conveniently located in the heart of Orange County. Our office provides easy access from both the 22 freeway. 5 and 55 freeway.

Southern California Law Advocates P.C.
2112 E. Fourth St. Ste. 103 Santa Ana, CA 92705
Phone: 866-337-7220

Our Santa Ana, CA office represents clients in Anaheim, Fullerton, Yorba Linda, Stanton, Costa Mesa, Brea, Newport Beach, Irvine, Santa Ana, Anaheim Hills, Garden Grove, Huntington Beach, Seal Beach & surrounding cities.

Serving All of Southern California

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