Behind on Your House Payments and Worried About Foreclosure?
Many people are surprised to find out filing for bankruptcy can help them stop foreclosure and keep their home. The common misconception is that when you choose bankruptcy you hand over the keys to your house and other valued possessions. The reality is much more encouraging. Often you are able to keep this property if you file a Chapter 7 Bankruptcy, allowing you to discharge the other debt and making your car and/or home more affordable. However, if you are unable to bring the mortgage and/or car note current and your goal is to save this property, a Chapter 13 Bankruptcy may be the answer to accomplishing your goals.
At the Holly Schumpert Law Office located in Memphis, Tennessee, I help individuals who are behind on their mortgage payments and worried about foreclosure explore alternatives that may allow them the ability to save their homes.
Contact me, attorney Holly Schumpert, to find out if Chapter 7 or Chapter 13 bankruptcy is the right way for you to avoid foreclosure or modify your debt in order to make your monthly payments more affordable, allowing you the ability to save your property.
Making Your Home Affordable Again
A Chapter 7 filing can help you get rid of other debts — like credit cards, medical bills, old landlords, repossessed cars, etc ... — that are making it impossible for you to make your monthly house payments. With those debts discharged (no longer owed pursuant to court order), your financial situation may allow you to now afford the mortgage payments or car payments. There are steps we can take to help you avoid foreclosure by making your monthly payments more affordable.
Getting Caught Up After Missed Payments
A Chapter 13 bankruptcy is essentially a repayment plan. This can be a good option if you have fallen behind on your mortgage payments because of a period of unemployment or poor health, but can now afford to make regular payments again. You will be able to make up your missed payments over a period of time, and in most cases without paying interest on the mortgage arrearage.
Act Soon to Save Your Home
Many people who are overwhelmed and drowning in debt are hanging on to the hope that tomorrow will be better. They procrastinate in seeking help. There is hope for a better tomorrow, but you have to take action today. Do not wait until it is too late to save your home. Protect what you can while you can.
Contact me for a free consultation and find out how an experienced bankruptcy lawyer can help you get relief from debt and save your property. Call 901-201-5938 or
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
