Stopping Foreclosure, Garnishment And Repossession With Bankruptcy

Many individuals struggle with mounting debt for a long time before consulting with a bankruptcy lawyer. Maybe you have tried to keep ahead of your debt by juggling payments or seeking a payday loan. Some people tap into protected retirement benefits in an effort to manage debt. Perhaps you are facing the risk of foreclosure due to a mortgage reset or a balloon payment coming due soon.

The Law Office of Lora L. Phipps has been a trusted resource for people seeking effective debt relief in Vigo County and surrounding areas for more than 20 years.

It is common for people to delay speaking with a bankruptcy attorney due to fear that filing for bankruptcy will place assets at risk. In reality, many people find that filing for bankruptcy can be an effective method to protect property.

Do Not Wait Too Long To Stop Extreme Collection Efforts

If you are facing foreclosure or repossession of your vehicle or if creditors have obtained a judgment and are garnishing your bank account or wages, bankruptcy may be your best option. Filing for bankruptcy will stop garnishment, foreclosure, repossession and all other collection activities.

When your assets are at stake, however, time is of the essence. You must file bankruptcy before the foreclosure sale to protect your home. Similarly, there is only a short period of time available to get your car back from repossession. When facing the loss of property due to the efforts of debt collectors, it is critical for you to seek advice and counsel from a knowledgeable bankruptcy lawyer to protect your interests.

Special Considerations In Foreclosures And Repossessions

Chapter 13 provides many creative solutions in foreclosure defense matters. In Chapter 7, relieving enormous credit card debt and medical bills may allow you to afford your mortgage payment again. If you owe more on your home than it is worth, you could face a deficiency judgment after the foreclosure sale. Filing for bankruptcy will protect you against any deficiency if you choose to surrender the home. We can help you make informed decisions.

Similarly, if your car payment is not affordable, you can choose to surrender the vehicle. We also have experience helping clients obtain restructured terms on their vehicle loans.

Call To Put A Halt To Foreclosure, Repossession Or Garnishment

To arrange a no-pressure consultation to learn more about your legal options, request a meeting using the online form or call our office in Terre Haute, Indiana, at 812-235-0300.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.