We buy houses for cash to help you avoid bankruptcy. There are lots of reasons for someone to sell their house as quickly as possible. You may need to relocate quickly for a job or to help your family. Maybe you are a landlord that wants to reduce the number of properties you manage.
You may have a large amount of debt, and you do not know how you are going to pay all the bills. You might even be considering bankruptcy.
Fast Home Buyers will give you a fair cash offer for your house. It does not matter what condition the house is in, we will buy it. We will also buy houses in any financial condition.
Bankruptcy is a legal process people can use when they have more debt than they can pay. This process is started by the person who is in debt. A person filing bankruptcy goes into court and tells a judge that they can not pay their debts.
The court may erase some of the debt. Or they might create a repayment plan. This depends on the type of bankruptcy
Most people who consider bankruptcy feel like they have no other options left. Their debt is so high they can not see a way out. Debt collectors are calling every day. It is a stressful situation.
This could have happened because they lost their job, and they have not been able to get another one. Job losses can happen unexpectedly.
When there is no emergency fund to fall back on, debt adds up quickly. Many Americans are living paycheck to paycheck with no savings.
It is possible that they had a medical emergency. A serious injury can rack up major bills, even with health insurance.
Copays and high deductibles add up quickly. A rare or serious disease can do the same thing.
In addition to the high medical costs, people are missing work. Everyday expenses and bills are piling up too. The resulting debt is so high people feel they just can not pay it off.
A death in the family might have caused debt to build up. Especially if the person who died was the major income provider.
Going through a divorce could also cause someone to think bankruptcy is their only financial solution. Legal fees for divorces can be extremely high.
Paying child support and alimony might mean other living expenses are not paid, building up debt.
There are a few different types of bankruptcy. The type used depends on the debtor’s financial situation.
Chapter 7 bankruptcy can also be called a liquidation, or straight bankruptcy. During this process, a court-appointed trustee is in charge of your finances, not you. The trustee sells off anything you own that has value.
That money is used to pay off the debts you owe. Any unsecured debt left is usually erased. Unsecured debt would be things like medical bills and credit cards.
Some debts will not be erased by chapter 7 bankruptcy. You will still have to pay these bills during and after bankruptcy. This includes:
People can only file for chapter 7 bankruptcy if they meet income guidelines. The court decides if you can file this way. They compare your income with the state average income.
If your disposable income is too low to pay back your debt, Chapter 7 bankruptcy is allowed. If you do not fall into the income guidelines it would be Chapter 13 bankruptcy.
Chapter 7 bankruptcy will not stop the foreclosure of a home, just delay it.
Chapter 13 bankruptcy reorganizes the debts someone owes. In this case, the court gives you a monthly payment plan to pay off your debt over three to five years. This does stop a foreclosure, allowing you time to catch up on payments.
The court puts you on a budget. They will be watching your spending, there is no privacy.
Chapter 11 bankruptcy is normally for businesses. This allows businesses and corporations to continue doing business while they make a plan to pay off debt. The plan must be approved by the court and the creditors.
Sometimes individuals can use Chapter 11 if they have too much debt to qualify for Chapter 13. This would usually be a real estate investor or someone with celebrity status.
Chapter 12 bankruptcy is similar to chapter 13. But this is meant for family farmers and fishermen. This allows them to create a repayment plan without selling their equipment or property. It is more flexible than Chapter 13.
While some people may look at bankruptcy as a fresh start, there are long-term consequences. Bankruptcy can take a huge emotional toll on people, just like a divorce. There are other things that come along with it.
Bankruptcy is a public event. You go through the court system. This means all of the details become available to the public.
Anyone can look at the records, including banks, business partners or clients, and potential employers.
Bankruptcy does not get rid of all your debts. Things like student loans and government debts will still have to be paid.
If you are responsible for child support or alimony, that will still have to be paid.
Bankruptcy will hurt your credit score. A Chapter 13 bankruptcy stays on your credit report for seven years. A Chapter 7 bankruptcy will stay on your credit report for ten years. You also will not be able to qualify for a mortgage for one to four years after a bankruptcy.
Filing for bankruptcy will cost you money. There are paperwork fees to file with the court system.
You will also have to pay for a lawyer. These are things that you will still have to pay, even if you complete the bankruptcy process.
Declaring bankruptcy can affect your finances for a long time. Selling your house to Fast Home Buyers can help you avoid having to declare bankruptcy.
We buy houses quickly and pay with cash. This means you can pay off your debts with cash, without having a negative mark on your credit report for years.
You can avoid the emotional stress of going through the bankruptcy court system. There will be no embarrassment of having everyone know that you filed for bankruptcy.
Selling to Fast Home Buyers will save you money. We pay all the closing costs when you sell to us. No attorney fees, no percentage going to a real estate salesperson.
You do not have to make repairs to your property, we buy houses in as-is condition. We even clean them out if you can not take something with you.
If you are in a place where you see no way out of debt, consider selling your property to Fast Home Buyers. We pay cash for your property and get all the paperwork done quickly, so you can move on. Contact us today.
We’ve been buying houses in Utah, a fast and fair cash offer, for the last three years. Our idea is to help everybody to solve problems with their properties. We buy houses in any condition and situation: Evictions, Probates, Notice of Default, Inheriting house, divorce, foreclosure, literally any situation.
We’ve helped hundreds of people with their properties, sometimes in less than a week. You can check our “Testimonials” and how we’ve helped people over the years.
We started our business in Utah, buying houses in the whole state. Today we are in Florida, helping others with our fantastic team there. Feel free to contact us today and get your offer.