Save Your Home
A Chapter 13 Bankruptcy is often used to immediately stop a foreclosure and save your home. This is because a Chapter 13 bankruptcy is a wage earner’s plan or repayment plan. By restructuring your debt into a three to five-year repayment period, you are able to make one payment for all of your creditors and resume your regular mortgage payment. This is possible because the amount you are behind on your home (known as “arrearage”) is added to the Chapter 13 payment plan. The bankruptcy attorneys at O'Hara, Taylor, Sloan, Cassidy, Beck, PLLC can even review your circumstances and determine if a Chapter 13 bankruptcy and determine if your second lien or a judgment lien can be removed from your home. Whether you are behind on your mortgage, you have a sale date pending, or judgment liens are piling up, you have options.
Chapter 13 Plan payments are designed to be affordable so that you can realistically regain financial freedom. The amount you repay is determined based on your household income and expenses. Therefore, you may be paying little to nothing to your credit cards, medical bills, and personal loans. Instead, at the end of your Chapter 13 Plan, these debts would be discharged, and you would no longer owe them.
Finding a solution to a financial crisis can be challenging on your own, but our experienced bankruptcy attorneys at O'Hara, Taylor, Sloan, Cassidy, Beck, PLLC can help you determine the best path and get you back on your feet. Contact the bankruptcy attorneys at O'Hara, Taylor, Sloan, Cassidy, Beck, PLLC today.