Can Chapter 13 Bankruptcy Save Your Home?

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You find yourself in a sticky situation - your mortgage payments are falling behind and fear of losing your home starts to surface. You start taking appropriate actions by speaking to your bank for a repayment plant, but may still feel that it's more than you can afford to pay. Other homeowners that have been in a similar experience often turn to filing Chapter 13 bankruptcy as a solution.

Chapter 13 bankruptcy may be a good way to save your home if you are already behind on mortgage payments. Chapter 13 bankruptcy can give you a chance to pay either all or a portion of your debts through a repayment plan. It can give you the opportunity to pay unpaid mortgage payments within three or five years, depending on your income.

Not only can Chapter 13 bankruptcy help you take control of finances that have gotten out of control, it can help save your home. It can help you eliminate payments on your second or third mortgage, stop foreclosure proceedings and modify some debts secured by the property.

Bankruptcy is not something anyone wants to think about. However, sometimes tough circumstances force us to face difficult decisions. A Chapter 13 bankruptcy lawyer can assist you in creating a successful plan to save your home and pay off debts.

A bankruptcy lawyer that practices bankruptcy law can provide you with legal methods to either help you wipe out your debts by liquidating assets and distributing them among creditors. A bankruptcy lawyer can also help explain the primary purposes and applications of bankruptcy laws and how they function.


If you have any questions about the information provided above, please contact Attorney Search Network.

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