Peoria, Illinois, Home Foreclosure Attorney
Many people will file Chapter 13 bankruptcy to stop home foreclosure. Rather than liquidate your debts through a Chapter 7, a Chapter 13 allows you to restructure or reorganize your debts while protecting your assets. At Charles E. Covey, Illinois home foreclosure attorney , we provide strategic and experienced advocacy to protect our clients in the bankruptcy process and help them achieve a financial fresh start through debt relief.
We are committed to helping clients achieve debt relief and prevent Illinois home foreclosure through Chapter 13 bankruptcy. Contact us to explore your rights and options under the bankruptcy laws.
If you are considering bankruptcy, it is important to know your rights and options. There are alternatives to bankruptcy that may be a better option for you. At the law offices of Charles E. Covey, Attorney at Law, we have experience helping our clients review their rights and options in bankruptcy so that they can make the best immediate and long-term financial decisions.
How much do you need to catch up on missed mortgage payments?
To protect your house from foreclosure, the courts will look at how much you need to recover from debt. That total debt will be divided by 60 months, which you will be able to pay overtime along with your regular mortgage payments.
What if I have no equity in the home?
If you have no equity in your home, it may be best to file Chapter 7 and walk away. Our attorney will review your assets, debts, income, and equity and help you decide whether bankruptcy is the best option for you.
Can I keep my property?
A Chapter 13 bankruptcy allows you to reorganize your debt and keep your property, so long as you repay your debts. A Chapter 7 bankruptcy will liquidate your debts (leaving you without real estate) unless you manage to catch up with missed mortgage payments after you file. A Chapter 13 bankruptcy gives you up to 5 years to bring your mortgage payments up to date.
How long until eviction?
If you are facing home foreclosure, you may wonder how long it will take until you are evicted from the premises. It takes 7 months after filing foreclosure to evict the owner of a home. If you are facing foreclosure or you believe that foreclosure may be impending, you have time to assert your rights and prevent foreclosure before eviction. We can also file an emergency bankruptcy petition to prevent foreclosure and eviction.
Contact Charles E. Covey for a free consultation with a Peoria, Illinois bankruptcy lawyer. Call now to explore your options and alternatives if you are considering bankruptcy to stop home foreclosure. We can protect your rights and help you take steps toward a financial fresh start.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.