Avoiding Foreclosure

The sad reality is that, due to the economic recession, more and more hardworking Americans are losing their homes every day to foreclosure. Foreclosure occurs when you are unable to make the mortgage payments each month and the lending company repossesses your home. Not only are you out on the street without a roof over your head, but you also lose everything you have worked so hard for. Foreclosure can be devastating for the entire family. You may feel like you have let everyone down and that you have nothing left. You may feel frustrated, angry, ashamed and afraid. However, there are alternatives to foreclosure that may help you in this tough situation. Our dedicated and compassionate lawyers will review your financial situation and determine the best way to keep your home and regain control of your finances.

Avoiding Foreclosure with Bankruptcy

There are a number of options to avoid foreclosure. Chapter 7, liquidation bankruptcy, may be your best bet if you simply cannot afford to make any type of payment on the home. Your house will most likely be liquidated in exchange for a discharge of unsecured debts. You may lose your home but you will also be able to start fresh without worrying about the additonal credit card bills and other debts still looming over your head.

Chapter 13 bankruptcy is another option to avoiding foreclosure. In most instances, you will be able to keep your home and will be put on a manageable payment plan each month. Your debts will be consolidated into one payment for 3-5 years. After that, any unsecured debts will be discharged and you will continue to make payments on your home. This is a great alternative to foreclosure for those who have a steady income and are able to continue with steady monthly payments.

Additonal Foreclosure Alternatives

There are additonal alternatives to foreclosure if you do not want to file for bankruptcy, or if bankruptcy is not the best solution for you. A deed in lieu or a short sale may be a better solution. You may lose your home in these instances but you will also be able to save your credit report and look forward to a brighter future this way. If you cannot afford your home but do not want to lose it to foreclosure, then contact our lawyers – we can help find the right alternative for you.

Minnesota Bankruptcy Lawyer & Attorney

Our lawyers understand what you are going through. Whether you have lost your job, faced an unexpected mountain of medical bills or are currently struggling with a divorce, we can help you keep your home and confront your debts. Our Minneapolis bankruptcy and foreclosure lawyers will assess your financial situation to determine the best way to prevent the loss of your home.

We represent bankruptcy clients in matters involving Chapter 7 bankruptcy, Chapter 13 bankruptcy, wage garnishment, creditor harassment, foreclosures and debt consolidation. Contact Myles A. Schneider & Associates, Ltd. 24 hours a day, seven days to week at 763-315-1100 to see how we can help you.

Schedule a Free Consultation Today

If you are facing a bankruptcy or even if you just have questions, contact our law office to speak with one of our attorneys. We have the legal knowledge and experience to help you get through this difficult time and move forward with your life. Contact Myles A. Schneider & Associates, Ltd. today at 763-315-1100 to schedule a free consultation with one of our experienced bankruptcy law attorneys.

Minnesota Bankruptcy Lawyers and Attorneys

Myles A. Schneider & Associates, Ltd. represent clients from throughout the areas of Minneapolis, St.Paul, MN or anywhere in the whole Twin Cities area – Saint Paul, MN Mpls, Anoka, Apple Valley, Andover, Blaine, Bloomington, Brooklyn Center, Brooklyn Park, Burnsville, Champlin, Chanhassen, Columbia Heights, Coon Rapids, Cottage Grove, Crystal, Eagan, Eden Prairie, Edina, Excelsior, Falcon Heights, Farmington, Forest Lake, Fridley, Golden Valley, Hastings, Hopkins, Inver Grove Heights, Lake Elmo, Lakeville, Lino Lakes, Little Canada, Long Lake, Mahtomedi, Maple Grove, Maplewood, Mendota Heights, Minneapolis, Minnetonka, Mounds View, New Hope, North St. Paul, Oakdale, Plymouth, Prior Lake, Richfield, Robbinsdale, Rogers, Rosemount, Roseville, St. Anthony, St. Louis Park, Savage, Shakopee, Shoreview, South St. Paul, Spring Lake Park, Stillwater, Vadnais Heights, West St. Paul, White Bear Lake, and Woodbury, MN – Minnesota.