Bankruptcy Attorney
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Foster City Bankruptcy Lawyer

Bankruptcy is a powerful tool to get rid of unmanageable debts. Whether you are having problems with credit cards, home loan payment, taxes or other debts, the bankruptcy laws can help. Schedule a FREE consultation or FREE PHONE consultation with our experienced Foster City bankruptcy lawyers and find out if bankruptcy can help you. Call us toll free at 1-877-963-9543.

Meet our attorneys: Ryan C. Wood and Kitty J. Lin

We are committed to providing you with the best bankruptcy experience for a reasonable fee.

San Mateo Bankruptcy Office

San Mateo Office
1900 S. Norfolk Street, Suite 350
San Mateo, CA 94403

Toll Free: 1-877-9NEW-LIFE
Fax: 650-366-4875

Free No Obligation Consultation

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Chapter 7 Bankruptcy

Low Cost Bankruptcy

Get Rid of A Second Mortgage Or Equity Line of Credit

Chapter 13 Bankruptcy

What is Bankruptcy?

Save Your Home From Foreclosure

One the most common problems right now is the mortgage meltdown. Not only can many homeowners not afford their monthly mortgage payments, but the value of their house has decreased significantly over the last five years too. It begs the question whether to even keep the house at all. If may be ten years before the value of the house increases. Filing bankruptcy is still limited regarding how much it can help. A first mortgage cannot be modified in bankruptcy. What bankruptcy can do though is get rid of an underwater second mortgage, equity line of credit or a third mortgage. If the value of a house is less than what is owed on the first mortgage, then all the other liens on the property are unsecured. When filing a chapter 13 bankruptcy the house is valued and any remaining lies are reconveyed upon completion of the chapter 13 plan of reorganization. If you are having trouble paying both mortgages each month bankruptcy can eliminate the other mortgages and make the house affordable again.

The most common reason why people file bankruptcy is to get rid of credit card debt though. Once a payment or two is missed credit cards companies usually just increase the interest rate and add late payment fees to the total owed. This just makes managing the credit card debt that much more difficult. Before you take an early withdrawal from a retirement account or a loan on a retirement account it is imperative that you speak to a bankruptcy lawyer to find out how bankruptcy can help first.