When a person falls behind on their mortgage they may have a few choices of how to fix the loan or save the home. This Chapter 13 article does a good job of discussing the positives and negative aspects of filing a Chapter 13 Bankruptcy or a Chapter 7 bankruptcy in Chicago.

It states that you can avoid the tax liability associated with a deficiency that survives the sale of your home. The article also discusses how it may be possible to strip liens on homes that have become substantially undervalued. It also discusses that while the bankrupty filing can hurt your score and stay on your record for 10 years, at the same time it can give a realistic manageable timetable to payoff all your debts and come out of the bankruptcy caught up on all your debts and still have possession of your home or car. However, it is urged that you do your homework when selecting your attorney.

A Chapter 13 reorganization is complicated and you should find a Chicago Bankruptcy Lawyer that has a wealth of regular experience in creating chapter 13 plans and representing Chapter 13 clients so as to make sure you get a plan that best fits your personal financial needs. have drafted numerous Chapter 13 plans and I feel confident I can get you into a Bankruptcy plan that fits your personal needs. So call or email us today so we can get you a free consultation at 312-489-8182 so you can Lose your Debt and keep your Dignity!

Marc