Milford Chapter 13 Bankruptcy Lawyer
Chapter 13 Stops Foreclosure
Milford residents continue to struggle in their efforts to avoid homes lost to foreclosure and the pressure of other debts and expenses. Chapter 13 remains the leading method for preventing homes lost to foreclosure by forcing banks to accept missed payments over time on defaulted mortgages or mortgage modifications. Foreclosure actions are immediately stopped by the filing of a Chapter 13 petition through the imposition of an “automatic stay” on all proceedings including foreclosure.
At the Law Offices of Neil Crane, we are one of the leading providers of mortgage and foreclosure solutions often through the use of Chapter 13 mortgage protection provisions for home owners in any stage of default or foreclosure.
To learn more about saving homes from foreclosure in the Milford area call us at 203-230-2233 or toll free at 1-888-249-3027. Or fill out our online Contact Form for a prompt response to your inquiry today.
Full Debt Protection Under Chapter 13
Chapter 13 provides for favorable treatment of all forms of debt and prioritizes elimination or repayment in accordance with the importance of each obligation. Chapter 13 covers all forms of debt without exception:
Credit Card Debt: Can be eliminated in full or in part depending on your assets and income.
Personal Loans, Medical Bills: Can be eliminated or reduced in accordance with your assets and your monthly budget.
Mortgage Debt: Can be restructured in any case but can also be subject to lien stripping elimination or reduction in accordance with the value of the underlying collateral. Chapter 13 prevents foreclosure and allows for lien stripping.
State and Federal Income Taxes: Can be eliminated in the case of qualifying income taxes over three years old or repaid for non-qualifying or more recent tax years on affordable terms without further late fees or penalties.
All Taxes of any Type: Can be paid over a three to five year plan under more favorable treatment without the loss of assets in accordance with the type and amount of tax.
Underwater Mortgages and Liens: Can be removed from the property and eliminated, reduced or repaid depending on values and income.
Domestic Support Obligations and Student Loans: And other more difficult forms of debt including fines or penalties can also be altered permanently or over a three-to-five year repayment plan.
Chapter 13 Plans at the Law Offices of Neil Crane
Properly creating and supporting a Chapter 13 Plan based on the individual budgets of each client is a somewhat difficult but essential step to full Chapter 13 success. Each type of debt needs to be prioritized and paid in accordance with the monthly financial needs of families of all sizes. At the Law Offices of Neil Crane, we’ve been preparing and successfully completing Chapter 13 Plans since 1983. We’ve solved thousands of Connecticut homes through hard work and the Chapter 13 bankruptcy process.
To learn more about the full range of coverage and home foreclosure prevention powers of Chapter 13, call us for a free confidential and comprehensive consultation, call our experienced Chapter 13 attorneys at 203-230-2233 or toll free at 1-888-249-3027. Or fill out our Contact Form for a prompt response to your inquiry today.