Foreclosure is a term that’s plagued with financial and social stigma and it brings to mind [..]
Chapter 13 Bankruptcy & Saving Your Home
Friendly, Experienced Debt Attorneys Help Camden County Residents Save their Homes by Filing for Chapter 13 Bankruptcy Protection
You’ve tried to make ends meet, but the bills keeping coming and the harassing phone calls from collection agencies won’t stop. There is a solution to your financial problems: Filing for Chapter 13 bankruptcy protection is one way to reorganize your debt and save your home from foreclosure.
The knowledgeable, friendly bankruptcy attorneys at Brenner Spiller & Archer will sit down with you and explain your options for avoiding foreclosure. We will be right by your side, every step of the way as the Automatic Stay puts an immediate end to the collection agency harassment, so you can focus on getting back on your feet financially and saving your home. Contact our Collingswood, NJ law office today to speak with a caring Chapter 13 bankruptcy lawyer who will put your family first.
How Chapter 13 Bankruptcy Can Stop Foreclosure Proceedings and Save Your Home
First things first: it’s important to know what’s involved in a Chapter 13 bankruptcy to best understand how filing for this type of bankruptcy protection may be able to help you stay in your home. Simply put, Chapter 13 bankruptcy is also known as “reorganization bankruptcy.” Unlike Chapter 7 bankruptcy, where you will likely be forced to give up many of your assets, including your real estate, in exchange for the debt being wiped out, Chapter 13 is a restructuring plan. In other words, our legal team will assist you in creating a repayment plan so you can pay back your debt to creditors over a longer period of time. It usually takes between three and five years to complete this plan and get back fully on your feet financially.
Here’s how Chapter 13 bankruptcy can save your home:
- Payments of your mortgage arrears will be spread out over the repayment period.
- If you keep up with your mortgage payments during the repayment time, you will be able to remain in your home and stave off any foreclosure proceedings.
- It’s important to note, however, that in addition to repaying the arrears, you will also have to stay current on mortgage payments going forward.
If you are feeling anxious about how you will possibly afford to repay all your debts, even though you’ll have several years to complete your reorganization, it’s time to contact a skilled bankruptcy lawyer at Brenner Brenner & Stiller.
We will work with you to create a repayment plan that will work for you. We’ll also explain how the Automatic Stay provision of the US Bankruptcy Code will stop any current foreclosure action and force your creditors to immediately stop hounding you for payment. Additionally, we will discuss how Chapter 13 can strip a second mortgage so you can see the light at the end of the tunnel even faster.
We have many years of experience assisting homeowners by drafting successful repayment plans. We can help your family get through this financial crisis so you can stay in your home.
Contact a South Jersey Bankruptcy Lawyer Who Specializes in Chapter 13 and Foreclosure Defense for Free Today
Bankruptcy laws are extremely confusing and can easily overwhelm anyone who doesn’t have considerable experience navigating these complicated laws. If you are reading this page, it’s likely you realize you need a Chapter 13/foreclosure defense specialist to help you save your home. You’ve come to the right place.
You may be feeling embarrassed and overwhelmed about your debt. However, you are not alone. Many people get behind on their mortgage payments and quickly begin to feel as though they are drowning in debt. Allow our experienced bankruptcy lawyers to toss you a lifeline. At Brenner Spiller & Archer, LLP, we provide friendly, caring and affordable legal services. We serve clients throughout central and south Jersey with offices in Collingswood, Mount Holly, Vineland, and Freehold. If you need a lawyer, call 856.963.5000 today to schedule your free consultation.