Keeping Your Home with Bankruptcy
The number one reason people file a chapter 13 bankruptcy is to keep from losing their home in a foreclosure sale. The reason their home is end the sale is because of non-payments. After so many months of no payment the mortgage company has tried to work something out with you but it is usually not affordable. They want a payment and a half for so many month, if you could not make the normal, well a payment and a half well is not possible.
What the chapter 13 does is puts what ever you are behind, all credit card debts, and maybe your car in a plan to be paid back over five years. The payment can be same as your car payment alone in a lot of cases. Your first mortgage payment and trustee’s payment will start 30 days after filing giving you more time to either have a job or be in a position to make those payments.
The chapter 13 is federal law that the mortgage company, credit cards, auto loan, and any other creditor, even the IRS has to accept the plan.
Please fill out our free evaluation form to determine if bankruptcy is right for you.

