The importance of having a qualified bankruptcy lawyer handling your foreclosure case.
Seven people were recently indicted in Texas for abusing federal bankruptcy protection laws as a way to stop foreclosure actions on their homes. They filed bankruptcy without any intention of attempting to repay their debts. The filings were only intended to suspend the foreclosure process.
While the actions by these individuals were deliberate acts of bankruptcy fraud, they serve as an important reminder for people who may be facing foreclosure and are considering personal bankruptcy as a potential solution. It is important that you fully understand the bankruptcy process and what it can do for you with regard to relieving debt and helping you save your home.
Get sound advice from a reliable bankruptcy lawyer.
There is no doubt that consumer bankruptcy can be a good way to get a fresh financial start and catch up on past due mortgage payments. There are specific requirements that need to be met and specific steps that need to be taken in these matters, and a qualified bankruptcy lawyer can help you understand the process.
Most bankruptcy lawyers offer free initial consultations where you can get your questions answered and learn more about your debt-relief options. If you are struggling to keep up with your mortgage payments and you are considering bankruptcy as a possible solution, seek the advice of a lawyer you can trust to provide a thorough analysis of your situation and sound advice about how to proceed.
Come back next time when we will discuss strategic defaults for underwater homeowners.