Category Archives: Chapter 13 Bankruptcy

Do you need to reorganize your debt and get your debt under control? Attorney provides information about Chapter 13 bankruptcy.

How Can Chapter 13 Bankruptcy Help Me Save My Home?

If you are worried that you may lose your home in foreclosure, you can enter into Chapter 13 bankruptcy and schedule a repayment plan lasting between three to five years. This can help you save your home and stop collection attempts. If you are being hassled by your lender about payments, this process creates an automatic stay that goes into effect preventing the bank from taking action against you. Additionally, if you have a junior mortgage, also known as second or third mortgages, a Chapter 13 bankruptcy allows you to discharge them. Unfortunately, the Baltimore Business Journal reported that foreclosures in Maryland increased in August 2014 by 20 percent over the same month last year. The news outlet reported that state foreclosures were also up 71 percent from July 2014. The Baltimore-area was hit particularly hard by foreclosures, as the rate ranked third in the nation with one in every…
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