Our Montgomery Chapter 13 Bankruptcy Attorneys Help You Save Your Home and Climb out of Debt
Serving Orange County
The nation’s bankruptcy laws offer many different options to help individuals and families find a way out from under overburdening debt. For hundreds of thousands of people every year, Chapter 13 offers an effective solution to unmanageable debt, putting consumers on track to turn their lives around and become debt-free over a relatively short period of time. For many people, Chapter 13 is especially attractive as a way to save their home from certain foreclosure. If you are struggling to keep up with home mortgage payments, car payments or other bills, contact the Montgomery Chapter 13 bankruptcy lawyers at Ingber & Provost to find out whether Chapter 13 is the right solution for you.
Chapter 13 Stops a Foreclosure in its tracks
Many people achieved the dream of home ownership in the last decade, only to watch their home value plummet or find out they were put into a loan they couldn’t really afford. If you have missed mortgage payments and are struggling to catch up, the day of reckoning may come when the bank will send out that notice of default, followed by a notice of foreclosure. Even if these things have already happened to you, it is not to late to do something about it. Our Orange County Chapter 13 lawyers can stop the bank from taking your home away from you. Here’s how.
When you file your Chapter 13 bankruptcy petition, the court puts an automatic stay in effect, which puts a stop to all collection efforts by creditors and bill collectors, including bank foreclosures. Meanwhile, your lawyer works with the bankruptcy trustee and your creditors to create a payment plan allowing you to pay off your debts using available income over a three or five-year period. Any missed mortgage payments can be rolled into that payment plan, so that you are no longer in default. As long as you stick to your Chapter 13 repayment plan and continue making mortgage payments going forward, you will get to keep your home and continue to build equity.
Chapter 13 can also help if you are underwater or upside-down on your mortgage, owing far more to the bank than your house is actually worth. Our Montgomery Chapter 13 attorneys can help get that mortgage crammed down in size to something that more accurately reflects the home’s market value, including stripping away second mortgages or liens that are not secured by the home’s value.
Turn Your Life Around Today with the Help of Dedicated Montgomery Chapter 13 Bankruptcy Lawyers
Let the Montgomery Chapter 13 bankruptcy lawyers at Ingber & Provost save your home and put you on the path toward financial freedom today. Call 845-733-2720 to speak with an experienced and dedicated Orange County Chapter 13 attorney.