Your car and your home are some of the most important things in your life. Without a car you’re unable to get to work, and without a home you’re living on the streets.
Luckily, there are options for people like you who are having problems keeping those bills up to date.
If You’ve Fallen Behind On Your Mortgage
For mortgage arrears, there are a few solutions. The first stop may be to look at modification or refinancing. But if you’re making decent money and have bad credit, neither of these are likely to provide much relief.
Modification, if it works out, will reduce your monthly payments and get you back on track. But servicers are difficult to work with, shuttling you back and forth among different departments – all while the clock is ticking on a potential foreclosure.
Refinancing is similarly tricky, especially if you’re behind on the mortgage. Just think about it – what are the odds of getting a better deal on your mortgage when you’re not current with the existing one?
Thankfully, Chapter 13 bankruptcy provides a way to catch up on missed payments and begin making new ones. If you’re looking to keep the house and have a reliable, steady source of income then this may be the option for you.
We Should Talk
To get a trained eye on whether bankruptcy will solve your problems, set up a free, no-obligation phone consultation. You can also give us a call at 866-787-8078 during normal business hours.