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Bankruptcy Attorney

 

About Timothy McCandless Esq.

I am merely an attorney who like so many others is overwhelmed by the onslaught of millions of defaults, modifications, foreclosures, trustees sales, notices to vacate ,unlawful detainers and sheriff’s lockouts.

In California a nonjudicial state a foreclosure can occur on the mere word of a lender without the original note or assignment of the original deed of trust. A then former homeowner can then be evicted by giving notice to vacate constructively (without notice) have a summons “Posted and Mailed” (again no actual notice) a default judgment taken (no trial) and a writ issued and the Sheriff’s instruction to evict issued and enforced.

I am about fighting this process, by 1. providing as much information as possible to allow homeowners to fight this process and 2. by litigation to protect those rights allegedly guaranteed by our constitution.

While I am an attorney the sheer number of cases no individual firm that I know of is capable handling competently. Most all non-profit foreclosure and legal aid service can provide only limited services. We have much to talk about this year as we push forward. By all accounts, the economy, the dollar, the foreclosures, the job situation etc are all getting worse by the minute.

Even if Obama is a magician it will be 2 years before there is a glimmer of hope. The homeowner aid programs are window dressing. Even the Sheila Bair one from FDIC/Indy Mac while well-intentioned does little for most homeowners. The ONLY hope for homeowners and the only hope for our economy is if we face the music and take the free market enthusiasts at their word, to wit: everyone agrees they artificially inflated real estate values and those values are still too high for the market to support. The only reason the “values” are stated so high is that the sellers are still deluding themselves in their asking prices. There is at least another 20% to go. As the Niel Garfield Continuum says, we are only in about the 2nd or 3rd inning of a 9 inning game that might go into overtime.

Loan Mod’s that leave homeowners under water simply will not work. People are not that stupid. It is easier to walk from the house and rent or buy another at real (lower) values.

Thus Litigation against the lender plan is the only viable option — get rid of the note, obligation and mortgage altogether or at least force a modification that will bring the obligation to around 80% of true fair market value. Only a credible threat to the financial services sector pushing foreclosures will result in this relief. The threat comes from understanding and enforcing the basic law applicable to these mortgages — they screwed up and now they want borrowers to sign new paper that clears up their screw up and leaves the borrower in a horrible position.

CALIFORNIA LEGISLATURE FINDINGS

1. Recently, the California Legislature found and declared the following in enacting California Civil Code 2923.6 on July 8, 2008:

(a) California is facing an unprecedented threat to its state economy because of skyrocketing residential property foreclosure rates in California. Residential property foreclosures increased sevenfold from 2006 to 2007, in 2007, more than 84,375 properties were lost to foreclosure in California, and 254,824 loans went into default, the first step in the foreclosure process.

(b) High foreclosure rates have adversely affected property values in California, and will have even greater adverse consequences as foreclosure rates continue to rise. According to statistics released by the HOPE NOW Alliance the number of completed California foreclosure sales in 20′07 increased almost threefold from 2002 in the first quarter to 5574 in the fourth quarter of that year. Those same statistics report that 10,556 foreclosure sales, almost double the number for the prior quarter, were completed just in the month of January 2008. More foreclosures means less money for schools, public safety, and other key services.

(c) Under specified circumstances, mortgage lenders and servicers are authorized under their pooling and servicing agreements to modify mortgage loans when the modification is in the best interest of investors. Generally, that modification may be deemed to be in the best interest of investors when the net present value of the income stream of the modified loan is greater than the amount that would be recovered through the disposition of the real property security through a foreclosure sale.

(d) It is essential to the economic health of California for the state to ameliorate the deleterious effects on the state economy and local economies and the California housing market that will result from the continued foreclosures of residential properties in unprecedented numbers by modifying the foreclosure process to require mortgagees, beneficiaries, or authorized agents to contact borrowers and explore options that could avoid foreclosure. These Changes in accessing the state’s foreclosure process are essential to ensure that the process does not exacerbate the current crisis by adding more foreclosures to the glut of foreclosed properties already on the market when a foreclosure could have been avoided. Those additional foreclosures will further destabilize the housing market with significant, corresponding deleterious effects on the local and state economy.

(e) According to a survey released by the Federal Home Loan Mortgage Corporation (Freddie Mac) on January 31, 2008, 57 percent of the nation’s late-paying borrowers do not know their lenders may offer alternative to help them avoid foreclosure.

(f) As reflected in recent government and industry-led efforts to help troubled borrowers, the mortgage foreclosure crisis impacts borrowers not only in nontraditional loans, but also many borrowers in conventional loans.

(g) This act is necessary to avoid unnecessary foreclosures of residential properties and thereby provide stability to California’s statewide and regional economies and housing market by requiring early contact and communications between mortgagees, beneficiaries, or authorized agents and specified borrowers to explore options that could avoid foreclosure and by facilitating the modification or restructuring of loans in appropriate circumstances.

2. “Operation Malicious Mortgage’ is a nationwide operation coordinated by the U.S. Department of Justice and the FBI to identify, arrest, and prosecute mortgage fraud violators.” San Diego Union Tribune, June 19, 2008.

3. “Home ownership is the foundation of the American Dream. Dangerous mortgages have put millions of families in jeopardy of losing their homes.” CNN Money, December 24, 2007.

4. “Finding ways to avoid preventable foreclosures is a legitimate and important concern of public policy. High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets and the broader economy. Therefore, doing what we, can to avoid preventable foreclosures is not just in the interest of the lenders and borrowers. It’s in everybody’s best interest.” Ben Bernanke, Federal Reserve Chairman, May 9, 2008.

5. “Most of these homeowners could avoid foreclosure if present loan holders would modify the existing loans by lowering the interest rate and making it fixed, capitalizing the arrearages, and forgiving a portion of the loan. The result would benefit lenders, homeowners, and their communities.” CNN Money, id.

6. On behalf of President Bush, Secretary Paulson has encouraged lenders to voluntarily freeze interest rates on adjustable-rate mortgages. Mark Zandl, chief economist for Mood’s commented, “There is no stick in the plan. There are a significant number of investors who would rather see homeowners default and go into foreclosure.” San Diego Union Tribune, id.

7. “Fewer than l%• of homeowners have experienced any help “from the Bush-Paulson plan.” San Diego Union Tribune, id.

8. The loss belongs where it was created — on Wall Street and Main Street Banks that rented their charter to Wall Street operatives who caused an unprecedented collapse of loan underwriting standards and crossing the line into fraud, forgery, and creation of false documentation. Companies SHOULD fail. Banks SHOULD fail. Borrowers CANNOT fail — because they are the backbone of the country and the economy.

9. There are plenty of lenders, investment bankers and money managers who did not play the game and are perfectly healthy. Bailout money should go to the players who played by the rules and are healthy. They are the ONLY ones who can and will lend, thus freeing up, somewhat, the tightening death grip of no credit and thus no commerce.

Lastly I am devoted to fighting this process by 1. Providing as much information, pleadings, discovery, publication of relevant cases as possible to allow homeowners to fight this process 2. Through the judicial process attempt to protect those rights allegedly guaranteed by our Constitution.

How a Foreclosure Defense Attorney Can Help You Save Your Home

Home foreclosure can be a confusing process.  Many homeowners are faced with stress and anxiety when dealing with the thought of loosing their home.  Because of this fear, many families just sit back and let the foreclosure process happen.  The good news is, there are ways to avoid home foreclosure.  Foreclosure defense attorneys of the McCandless Law Firm help families regain their home and get their life back in order.

With the help of the McCandless Law Firm or the  bankruptcy division, homeowners can learn ways to save their home.  There are many different options based on each homeowner’s personal situation.  It is best to discuss all of these options with an attorney before taking any steps.  Below are some ways in which attorneys can help avoid home foreclosure.

1. Your attorney may suggest that you file for bankruptcy.  While not all forms of bankruptcy allow you to keep your home, some do.  If you are in huge financial trouble, this may be a good way to avoid home foreclosure.   Although it takes time and effort, bankruptcy can allow you to get a fresh financial start, including allowing you to keep your home. It is important to talk with an attorney to make sure this is the best choice for your situation.

2. Loan modification is another option to stop home foreclosure.  This is not always a possibility, but for those who can take advantage of this opportunity, it can lower monthly mortgage payments.  An attorney can work with you to see if this is a possibility.  Successful homeowners, who use this method, are able to afford their mortgage payments and keep their home, thanks to lower monthly payments.  Speak with an attorney to learn the processes and see if you qualify.

3. If our attorney suspects your home foreclosure to be illegal, they may want to file a lawsuit against your lender.  Not only may your attorney save your home in the long run, but will make it harder for your home to be possessed because of the open lawsuit.  If foul play is involved in your foreclosure situation, your attorney may be able to avoid foreclosure altogether.

These are some ways in which attorneys can help you stop home foreclosure.  It is important to fight back.  Every day, people watch their homes be taken away from them, when in actuality; they may have been able to stop the foreclosure.  It is best to stay informed and educated on the home foreclosure process.  Consult the McCandless Law Firm to discuss your options, and learn the different ways to fight back.

The Foreclosure Defense Program offers resources on avoiding home foreclosure.  Put up a fight and learn how important foreclosure defense is!

Bankruptcy (Chapter 7,11 and 13)
  • Civil Defense
  • Real Estate Law
  • Family Law (including Divorce, Property Settlement, Child Custody and Child Support)
  • Domestic Partnerships
  • Business Protection (Start Up and Business Entity Formation)
  • Employment Law
  • Wage and Hour Law
  • Criminal Defense
  • Personal Injury law
 
Timothy McCandless esq (Intake Center) (877) 877-4786 x 801

 

The Law Office represent clients throughout Southern and Northern California. Our San Francisco Branch handles all intake and paralegal case management for all Northern and Southern California Clients. Our Firm represents clients from San Francisco to San Diego including but not limited to all counties of Clairemont, Pacific Beach, Mission Hills, Kensington, Point Loma, Ocean Beach, La Mesa, Carlsbad, Chula Vista, Coronado, Del Mar, El Cajon, Encinitas, Escondido, Imperial Beach, Lemon Grove, National City, Oceanside, San Diego County, Imperial County, Riverside County, San Bernadino County, Orange County, Los Angeles and our main paralegal office in San Francisco Office to service walk ins by appointment only in Northern California.

 

~Free Initial Consults.   Bankruptcy filing recommended only when it is your best option.

~File Bankruptcy From Home--no office visits required.  Don't let distance be a factor!

~20+ years' experience handling bankruptcy cases for debtors and creditors, business and personal, under all Chapters

~NOT a bankruptcy factory or mill.  Responsive, personal service by attorney who cares about you.  Our staff is ready to service your interests ! 

~Affordable Fees.  Payment plans available in most cases.

What Makes Our Firm Different?

CONVENIENCE: Our firm structures our bankruptcy law practice in a way to maximize the convenience to my clients, making the process as quick, easy and painless as possible for them, while also maintaining the efficiency and quality of my representation.  Among other ways I do this by handling the vast majority of work in cases via telephone and e-mail thereby reducing unnecessary time spent traveling for my clients.

I proudly invite you to take a look at some testimonials sent to us by former clients. 

ALL WORK DONE BY OUR STAFF OF ATTORNEYS: All legal work done on your case is done by the law firm.   Except for large business reorganization cases.  

FREE INITIAL CONSULTATION: I offer free initial phone consultations (certain days office appointments are also free) and all appointments and consultation information can be submitted easily online.  This enables me to review your information, anticipate problems and request additional information before our initial appointment.  The reason for this is to maximize the accuracy and efficiency of our meeting because I value your time.

AVAILABILITY: I'm available by e-mail throughout the day (and often much of the night) by e-mail to address client concerns

PROFESSIONAL AND AFFORDABLE: In short, my philosophy is to help my clients accomplish their goals by handling their case the right way the first time for a fair and competitive fee.


Take the next step to see if filing bankruptcy, whether it be Chapter 7, Chapter 13, or Chapter 11, is the best option for you and schedule a no obligation and free phone consultation

 

E-FILE: Bankruptcy cases filed or to be filed in all California counties.

If you live in California or the bankruptcy case affecting you was a filing in California), contact me now to schedule a consultation to see if it is in your best interest to file.

Mr McCandless esq is a federally qualified debt relief agency (lawyer and attorney) and, among other services, provides legal assistance to people and businesses seeking relief under the United States Bankruptcy Code.

What is Bankruptcy?

 

Bankruptcy is a system of laws and courts which govern the rights of debtors (borrowers) and creditors (lenders) when a person or company can no longer meet their financial obligations. The framers of the constitution knew the importance of a clean start for our society. Article 1, section 8 of the US constitution grants Congress the power to establish uniform bankruptcy laws throughout the United States.


Bankruptcy is meant to pay out creditors in a fair and uniform way from the remaining assets of the person or company. Once the process is completed the person or company involved is freed of previous financial obligations, even if their prior debts were not paid in full.

 

Who is affected by Bankruptcy?

 

Basically anyone can find themselves faced with navigating the bankruptcy system, especially these days. From Donald Trump, to former professional athletes to your next door neighbor, bankruptcy is a common avenue for getting back on track.

Bankruptcy filings continued their upward march, nearing 379,000 for the first quarter of 2010, an increase of 17 percent from the first three months of last year.

 

There were more than 6,200 bankruptcy filings per day in February 2010 and nearly 6,900 filings per day in March 2010, according to data from AACER (Automated Access to Court Electronic Records). That compares to less than 5,500 per day in February 2009 and fewer than 6,000 per day in March of last year.

 

California continues to lead the nation in 2010, with more than 59,000 filings for the first quarter of the year.  In 2009 more than 1.4 million

personal bankruptcy petitions were filed, according to AACER, up nearly one-third over 2008.

 

This year's bankruptcy filings are expected to reach at least 1.5 million, which was the annual average before the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was approved.

 

The act -- which was based on the assumption that consumers were abusing previous bankruptcy regulations -- has meant higher filing fees, a means test for eligibility, counseling programs and an eight-year moratorium before filing again. Consumers rushed to file for bankruptcy before the changes took effect, pushing bankruptcy filings to about 2 million in 2005. The numbers plunged afterward, but they've since seen a steady rise. As the impact of the 2005 law works its way out of the system and the impact of the economy continues to wreak havoc on individuals wallets, filings have resumed their inevitable climb back upwards.  

 

How does the Bankruptcy process work?

 

Like any legal process, the bankruptcy process can become quite complicated. The process for each individual bankruptcy is first determined by which chapter of bankruptcy code (law) the financial situation fits into. Here is a quick summary of the common ones:

 

Chapter 7:

The most common type of bankruptcy, it's known as liquidation. A trustee is appointed who collects the non-exempt assets of the debtor, sells it and distributes the proceeds to the creditors. The law outlines what is protected from liquidation so it is important to contact an attorney early before you spend money that may be not included in the liquidation process.

 

Chapter 13:

In these types of bankruptcies a plan is established where future earnings are used to pay off creditors. There may or may not be a trustee involved in these cases.

 

For more information on the process and how your situation may be resolved, please contact us today for your clean start.

 

Bankruptcy Overview
 

Personal Bankruptcy Lawyers

In today's economy, millions of people are financially stretched. A missed paycheck, a divorce or an unexpected medical expense can trigger a financial disaster.


Are you searching for a way to avoid foreclosure on your home or repossession of your car? Are creditors calling at all hours of the day and night?

A New Beginning

Personal bankruptcy can be a lifeline for people who are drowning in debt. If you have gotten in way over your head and can't see a way out, don't give up. Contact
 Bankruptcy Attorney Aguilar today. The initial consultation is free of charge.


No longer something to be ashamed of, personal bankruptcy is a tool for taking control of your finances and your future. It's a way to get a fresh start and rebuild your credit rating.

Bankruptcy vs. Credit Counseling

No loan consolidation, credit counseling or debt settlement service can transform your financial situation in the way bankruptcy can. Did you know that bankruptcy can:


    * Stop foreclosure
    * Stop repossession
    * Stop harassing phone calls
    * Stop wage garnishment
    * Stop bank account garnishment
    * Stop debt-related lawsuits

Life after Bankruptcy


Don't worry that you will never be able to get a loan or a credit card after filing bankruptcy. You may be able to get a credit card with a small limit soon after filing. By showing that you can keep up with your new financial plan, your credit rating can improve dramatically within as little as a year. Until then, you can still get credit, although at higher interest rates.

Our experienced bankruptcy lawyers will review your assets and debts and explain all of your options. You may be eligible to file for Chapter 7 bankruptcy and eliminate the vast majority of your debt. If you have a regular source of income you may be able to file for Chapter 13 bankruptcy and reorganize your debt into one affordable payment.

In the vast majority of cases, people who file bankruptcy can keep their homes and other possessions. To learn more please contact us today to arrange a free consultation.

 

WHICH CHAPTER OF BANKRUPTCY IS RIGHT FOR YOU?

 

Do you need to file bankruptcy?  And if you do, how do you know which Chapter of Bankruptcy to file under or which one you qualify for?   Which chapter is right for you? Ultimately, the answer to this is to have a comprehensive consultation with an experienced bankruptcy attorney, because it is a very complex analysis which takes into account a lot of different factors.

However, this page should provide somewhat of a basic roadmap to help in making your determination on where to at least look to determine if you need to file bankruptcy and, if so, under which bankruptcy chapter.   

Click Here to see a helpful video on the different bankruptcy chapters.

A.  Are you a corporation or partnership?  If so, your only options are Chapter 7 or Chapter 11.  

B.  Are you an individual or married couple?  If so, any chapter may work for you depending on your circumstances.

Chapter 7

In general, Chapter 7 is the least expensive and quickest bankruptcy.  It allows you to discharge your debts (those that are dischargeable) without doing any repayment.   The risks and problems with Chapter 7 are: 

     1. While it is usually not an issue, in some cases your assets may be at risk, depending on their value and whether you have sufficient exemptions available to protect them

     2. You may not be eligible for Chapter 7 if your income presently, or for the 6 months prior to filing is too high.

Chapter 13

Chapter 13 does everything a Chapter 7 does, but gives more options.  The tradeoff is that it is more expensive and time consuming.  In Chapter 13 you can:

1.  Keep all your assets

2.  Remove certain liens against property

3.  Catch up on past due payments on mortgages

and much more. 

The "tradeoff" in a Chapter 13 is that you must do a repayment plan over 36-60 months.  The amount of the monthly payment will depend on a number of factors, including your income and the non-exempt equity in your assets.

Chapter 11

Chapter 11 was designed for businesses, but individuals can (and sometimes must) file under this chapter.   Chapter 11 is very involved and expensive, but offers a lot of flexibility and options.  In Chapter 11, like in Chapter 13, you have to propose a repayment plan based on your income and other factors, but unlike in Chapter 13 your creditors in a Chapter 11 case get to vote for or against your Plan of Repayment.

Chapter 11 may be necessary for individuals who don't meet the strict debt limits for a Chapter 13, which are presently $360,475 for non contingent, liquidated unsecured debts, and $1,081,400 for non contingent, secured debts.

Chapter 11 bankruptcy starts at $20,000 and payment of $1500 per month for complete foreclosure defense based on the specific details of the case and very complex.

Bankruptcy - Our Related Services

 

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Bankruptcy FAQ Video from Us Courts

 

 

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