How Your Lawyer in Mobile AL Can Help You in Avoiding a Foreclosure

by | Apr 3, 2013 | Law

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The dreadful nightmare of foreclosure may not be a regular event, but the probability of a scenario like that is always there. Life plays its own tricks and always flatters to deceive. So do not be surprised if your business that did well till a month back is suddenly in troubled waters. And before you know it, the situation of a foreclosure in Mobile AL might take away from you all that you have.

Act, do not react

While a foreclosure might shut down a business and take away all the assets you have in Mobile AL, it is not a sudden accident that takes place over the night. There are always clear signs that are there suggesting you should act. But it is natural human tendency to hope against hope and wait till it is too late. Do not be reactive; rather be proactive in order to save the day in advance.

A situation of total inability to pay back the liabilities does not occur in a day. There is always a fall taking place steadily over a course of time. When you know that you are still able to provide yourself with basic needs of life but the continuously mounting amount of bills to pay are already taking their toll on you, it is time you consider hiring a bankruptcy attorney for discussion about declaring bankruptcy process under the provision of chapter thirteen.

Once you declare bankruptcy under these provisions, you can stop the continuous harassments by creditors and find enough peace and space to chalk out an effective repayment option with minimum liability; and even the interest rate is reduced to minimum. Thereby, in some time after the declaration, you are out of the sight of a possible foreclosure.

However, if you missed your chance here, then you still have shot. Obviously the ever accumulating credits in the market coupled with the interest rate will eventually lead you to a position where it would be difficult for you to even provide yourself with the basic needs and amenities of leading your life. This is the time a bankruptcy lawyer would suggest that you declare bankruptcy under the provisions of chapter seven.

Under these provisions, you still get a chance to hold on to most of your assets and either all or most of your debts can be cleared over a long course of time. For the remaining liabilities, your attorney would always find an amicable solution to ensure that another case of foreclosure in Mobile AL is not taking place.

Be realistic, be progressive

In order to ensure that you can tackle the possibility of a foreclosure, you need to consult a lawyer in Mobile AL in due time. If you cannot do that, you are inviting trouble for yourself. So stop being terrorized by the thought of bankruptcy unduly; remember that it is the option to get you out of trouble in time so that you have enough left with you to start your life again. It is not a curse that you should fear but a solution that you need to boldly embrace.

If you are afraid of a foreclosure that may take away all your assets, contact Crawford Law Firm LLC in Mobile Al without fail and as soon as possible. They have the required experience and understanding to deal with your case and chalk out a perfect solution for you.

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