Will bankruptcy help us save our home?

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Will bankruptcy help us save our home?

We’re behind on payments because of circumstances beyond our control. The transmission in one car and the other one completely shutdown. My husband has a good job but he isn’t good at managing money and wished he would have let me. I have a 7 year old that is going to be devastated.

Asked on November 25, 2012 under Bankruptcy Law, Tennessee

Answers:

eric redman / Redman Ludwig, P.C.

Answered 9 years ago | Contributor

a chapter 13 bankruptcy will allow you to start making payments to mortgage compnay again. plus you add an extra amount to catch up any arrearages on the mortgage.  it also eliminates your unsecured debts like  med bills , credit cards etc.  get a lawyer that does bankruptcy and do a free consultation.


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