Bankruptcy and Foreclosure

We are bankruptcy attorneys located in Middletown, Ohio. We can help you if you are facing a foreclosure.

Although the foreclosure rate is dropping there are still many Americans facing foreclosure. If you fall into this catagory, we will be able to help you. People face foreclosure for many reasons, job loss, a medical emergencies and variety of other reasons. It is not important how you got there, but what are you going to do now is what is important.

Do I want to keep my home or am I just going to move out and start fresh? Bankruptcy protection can help you, whatever you decide to do.

There are 2 types of bankruptcies available to the common consumer. Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.

If you have decided that you do not want to keep your home, you could consider filing a Chapter 7 Bankruptcy. Chapter 7 is designed to wipe out all of your debt, unsecured and secured items that you do not want to keep. Chapter 7 will also slow down the foreclosure process, as once your case is filed the creditor will have to gain permission from the bankruptcy court to move forward with the foreclosure. This gives you additional time in your home and time to save for your future move.

If you decide that you want to keep your home, Chapter 13 Bankruptcy would be for you. Under Chapter 13 Bankruptcy protection the foreclosure would have to stop. Your mortgage company must comply with the federal regulation of the bankrupcy code. Under Chapter 13 you would have a 3-5 year time period to make up your missed payments, the Chapter 13 Trustee would also take over your current house payments. At the end of your case, the Trustee will file documentation witht he bankruptcy court deaming that your payments are current, this makes sure that the mortgage company cannot come back on you for additional charges after your discharge. As to your unsecured debts, you would pay back a percentage, this varies depending on your individual situation, it could be 1% or it could be 100%. For exact figures, contact our office today for your free consultation.

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Call our Middletown, Ohio Bankruptcy attorney today for your free consultation. We offer flexible hours, fair fees and monthly payment plans.