September 10th, 2021
Posted By
Matthew Wegner

Discharge Day September 10, 2021

It is another great day here at the Wegner Law Firm. The sun is shining and the birds are chirping. Today we received two Discharge Notices. While I have changed the names for confidentiality, here are the stories of these two groups of people. Maybe you or someone you know is in a similar situation and need my help. Call me at 817-361-4479, email me at matthew@attorneywegner.com or go on my website, https://attorneywegner.com/, and schedule your own free consultation.

Jennifer C

Jennifer originally came to my office in 2018. At that time she was recently divorced and “mid-career”. Without the income for her ex-husband she could not continue to make the payments on the home, credit cards and vehicle payments. At the time she came in we discussed different options available to her. Ultimately, she decided to sell the home and use the money to bring her other debts into line with her current income. I thought that would be the last I would hear from Jennifer.

However, in March 2020 Covid-19 struck and she, like many people, lost her job. She fell behind on her credit cards and a signature loan and one of the creditors filed suit against her. Even though she was able to find a new job, she could not catch up on her debts and the lenders would not work with her. She made the right call and called the Wegner Law Firm at 817-361-4479.

In our initial meeting I reviewed her income, assets, and a copy of that lawsuit. She was able to qualify for Chapter 7 bankruptcy relief. The automatic stay created by the bankruptcy filing stopped the lawsuit. Jennifer received her bankruptcy discharge 107 days after the bankruptcy was filed. The lawsuit was dismissed and Jennifer eliminated $45,000 of debt.

Bucky and Laura B.

Bucky and Laura met with me in winter 2016. It was a few days before Christmas and they had been notified that their home would be foreclosed on by the Bank on the first Tuesday of January 2017. What a bad way to start the new year!

I met with them with them and went over their situation. Both husband and wife were working and they could stay current with their house payment. However, they were unable to catch up the past due balance in the time allowed by the Bank.

The foreclosure process is very rigid. Once you fall far enough behind the Bank will make a demand for the past due payments, usually within 30 days or so. After that they will send you a Notice of Acceleration demanding the full balance of the loan. If you are unable to pay the loan, usually be getting the property refinanced, the bank will send you a notice of foreclosure. In Texas, Foreclosure sales are the first Tuesday in each month. If you are concerned about being foreclosed on make sure to speak with an attorney in your area as the laws regarding foreclosure processes can vary from state to state.

In this case everything worked out great. I was able to file an Emergency Petition for Reorganization which stopped the Bank from taking the Bucky’s and Laura’s home. We filed a Plan of Reorganization which allowed the debtors to catch up over 5 years while being protected from their creditors. In this case the clients also decided to surrender a car that was way upside down in value. They even paid their case off a few months early.

Conclusion

There are many reasons to consider filing bankruptcy. You need to speak with an experienced bankruptcy attorney who can help you through the complex bankruptcy process and get the best outcome possible for you. Call me now at 817-361-4479 or schedule your free consultation at https://attorneywegner.com/