Washtenaw County Upside Down Mortgage Attorneys
Many people who consider bankruptcy are facing upside down mortgages. They are behind on car payments. They have major appliances that they still owe money on. They worry that if they file bankruptcy, this property attached to secured debts, along with all other property, will be taken away. In reality, with the help of an experienced lawyer, most people are able to keep their house and all other property.
Michigan Lawyers Helping You Eliminate Debt and Keep Property
By selecting the law firm of Marrs & Terry, PLLC, you can be confident that we will move forward with your goals in mind. We will work closely with you, listening and learning about what you want to protect from the bankruptcy process. We are well-versed in exemptions and asset protection techniques, so we can help you eliminate debt and keep property. Contact our law firm online or call 866-665-8095.
Keeping Your Property in Chapter 7 and Chapter 13 Bankruptcy
Exemptions allow you to keep your house, your car and the vast majority, if not all, of your personal property when filing Chapter 7, provided you are current on your payments. If you have fallen behind, you may have to catch up.
Liquidation of assets is not a part of the Chapter 13 process, so you are definitely able to keep your house, your car and all other property. Furthermore, filing Chapter 13 may also offer you the opportunity to strip a second mortgage on your house if you are upside-down on your mortgage. In other words, not only can you keep your home, you can eliminate the second mortgage and make your debt load more manageable for the future.
Contact Us to Learn More About What You Can Keep in Bankruptcy
If you would like to learn more about how to protect your house, car and other property in bankruptcy, contact us online or call 866-665-8095 to discuss your situation with our experienced Ann Arbor secured debt attorneys.
