Faced with a sale date on your property? Think all is lost? It isn’t! You can stop a foreclosure sale before your home is gone for good with a chapter 13 bankruptcy.
A chapter 13 can cure your mortgage default, get you a better deal on most financed items, including cars, and can discharge your unsecured debts, often at pennies on the dollar!
The bankruptcy code gives debtors who ran into a rough patch the ability to right the ship and get back on track with a chapter 13 repayment plan. The plan focuses on the value of assets, and your current monthly disposable income to create the repayment plan. The plan usually runs for 36-60 months in most cases, and debtors are usually debt free at the end (aside from the regular mortgage payment, ongoing child support and student loans).
If you are in Illinois, call Leeders & Associates today at 312-427-7400 to get information on chapter 13. We offer free consultations and roll much of our fees into the repayment plan too!