Tampa Bankruptcy Attorneys
Are you at risk of losing your home to foreclosure? You are not alone. With the recent downturn in the economy, millions of people have lost their home or face the immediate threat of foreclosure.
If you are struggling with debt and want to learn more about bankruptcy, contact B&B Law Group in Lutz, Florida. Our experienced bankruptcy lawyers serve clients throughout the greater Tampa Bay area.
Stop Home Foreclosure Through a Chapter 13 Bankruptcy
Many people have been able to avoid home foreclosure through the relief provided by Chapter 13 of the U.S. Bankruptcy Code. Through a Chapter 13 bankruptcy, you may be able to avoid home foreclosure, even if you are several months behind on your mortgage.
To be eligible for Chapter 13 relief, you must have a regular source of income that will allow you to pay your monthly home mortgage. However, there are a number of ways that a Chapter 13 bankruptcy can make your home mortgage more affordable:
- You may pay any past due mortgage payments gradually over the term of a three or five year debt repayment plan.
- Unsecured debts that you cannot afford to repay and which are dischargeable under the U.S. Bankruptcy Code may be discharged to free up money for your home mortgage.
- You may strip a second mortgage lien if the value of your home is less than what you owe on your original home loan.
- You may be able to reduce your monthly car payment. If your car loan is more than 910 days old, you are only required to pay back the current value of the car, even if your remaining debt is more than the value of the car.
Contact Our Tampa Bankruptcy Attorneys
Do not delay. Your home is too important to risk losing. Let us provide a free consultation to discuss your legal rights and options. For help, call us today at 813-333-9583 or contact us by e-mail.
