If you find yourself struggling with monthly payments and you do not have the means to make these payment to the debtors, contact or bankruptcy lawyers, because there are options for debt relief. The Chapter 13 “Reorganization,” allows you to consolidate all your debts into one low monthly payment. The monthly payment amount is adjusted to a payment your income affords you to make.
Chapter 13 is a Bankruptcy, but is considered reorganization, because some of the outstanding debt is repaid over a longer period. Chapter 7 bankruptcy completely eliminates your unsecured debt without any payment terms. Instead, it consolidates all missed mortgage payments or "arrears" and then spreads the repayment out over 3-5 years. The effective result is that your home loan can be reinstated by Federal Court Order and you continue to make your existing home loan payments. The Chapter 13 program results in a more realistic repayment plan than the short term plans currently offered by most lenders outside of the scope of laws under Title 11, and you maintain all your rights under TILA, RESPA, HOEPA, FDCPA, FCRA, etc. Foreclosure Lawyers of America recently joined the Bankruptcy Attorney Nation.
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If you are faced with losing your home due to foreclosure by the bank or mortgage company, contact Foreclosure Lawyers of America immediately for a free no hassle consultation. You need to know your legal rights.
Foreclosure Lawyers of America created a system that helps homeowners to continue the stay in their home for 6-12 months without making any loan payments! This program was derived directly from the Federal consumer protection statutes and the civil code.
Foreclosure Lawyers of America is a nationwide network of attorneys and legal professionals who will fight on your behalf.