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Clear the Fog of Uncertainty Surrounding Bankruptcy and Foreclosure

Many people resist bankruptcy far longer than they should because they are afraid of losing their homes or other property. What they don't know is that bankruptcy is often the best route to keeping a home out of foreclosure.

I am April Perry Randle, a Cleveland, Tennessee, bankruptcy lawyer. I help people keep their homes through legal means, including personal bankruptcy. For a free consultation, call me today at 423-464-6908. I can help clear the fog of uncertainty surrounding bankruptcy and assist you in returning to financial stability.

Buy Time, Increase Financial Options

Although Chapter 7 and Chapter 13 bankruptcies resolve debt issues differently, they share two important advantages.

  • Buying time. Once a person declares bankruptcy, an "automatic stay" goes into effect that prevents lenders from foreclosing on or repossessing property during the bankruptcy action.
  • Keeping property away from creditors. Bankruptcy laws include many asset exemptions that prevent creditors from taking things you own outright or in which you have equity beyond the loan balance.

After declaring bankruptcy, many people can either have their debts forgiven within a three-month period ( Chapter 7) or they can repay their debts through a court-approved debt restructuring plan ( Chapter 13) over three to five years. Either way, your debt load will be lightened and it is likely that you will have more income available for your everyday living expenses.

By declaring bankruptcy, you may actually have more financial options to pay for life's essentials.

In Too Deep? Consider Lien Stripping For Double Or Triple Mortgages

Through a Chapter 13 process, you may be able to remove the second or third mortgage from your home in a process informally called "lien stripping."

If the balance of your first mortgage exceeds the value of your home, your second (or third) mortgage is devoid of equity. Because of this, second and third mortgages can be considered unsecured debt and will be treated like a credit card to be repaid at 0 percent interest and perhaps less than the full amount that is owed.

Bankruptcy exemptions and realities: Bankruptcy will not leave you homeless and penniless. Find out why by reading my " Can I Keep My House And Property?" page. Saving your home may be within your reach.

Dispelling bankruptcy myths: Discussions about bankruptcy are often mired in hearsay and misinformation. Learn the truth about bankruptcy on my " Bankruptcy Myths" page.

Free Consultation To Prevent Foreclosure

Many people fear bankruptcy, but those fears are usually unfounded. You owe it to yourself to get the correct information from an experienced and dedicated southeast Tennessee bankruptcy attorney who can help you resolve your foreclosure concerns.

For more information, contact me online or at 423-464-6908.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.