Chapter 13

Negotiate Debt To Payoff Balances

learn about milwaukee bankruptcy laws and tools and how to use them to your benefit

Debt Relief Chapter 13 bankruptcy is used as a debt relief repayment plan. You must pre-qualify for this plan. If you qualify, then all debt is accounted for and broken down. A supervised repayment plan is put in place with priority debts paid first. The Chapter 13 repayment plan is typically spread over three to

Correlation between Home Sales, Home Foreclosures, and Chapter 13 Bankruptcy

The assumptions made by forecasters are sometimes incorrect. Even the most optimistic of buyers can’t help to be a little cautious because in this fast-moving marketplace. With the purchase of a new home, consider that things can change very quickly.  Some people purchase homes they really can’t afford in a tight situation. When abrupt changes

Wrongful Foreclosures: Reincarnated Mortgages Rising from the Dead

In recent years, American homeowners have had to become ever more familiar with strategies to stop foreclosure and creditor harassment, especially families facing overwhelming medical bills or a loss of income due to unemployment. Many have taken action through loan modifications or refinancing to lower monthly payments and head off other debt problems. The least

Mortgage Delinquencies Up, Wisconsin Homeowners Have Options

On behalf of Debt Advisors, S.C. Even though the Great Recession officially ended in 2009, it’s abundantly clear that millions of Americans are still hurting. Indeed, new data shows that the rate of late mortgage payments increased last quarter for the first time since the end of 2009. Between June and September 2011, 5.88 percent

Foreclosure Reform: Slow, Complicated, Too Late?

On behalf of Debt Advisors, S.C. The economy continues to sag under the weight of the continuing real estate crises. Too many borrowers remain underwater on their mortgage loans. Those borrowers are trapped, unable to refinance, obtain a mortgage modification or sell their homes. Working solutions have been few. The Home Affordable Modification Program (HAMP)

Increased Foreclosure Numbers in Wisconsin

People struggling with mortgage payments and other debt have several options to help stop foreclosures and other debt-collection actions. By filing for Chapter 13 bankruptcy, for example, an automatic stay is instated, stopping any foreclosure proceedings and blocking creditors’ attempts to collect money. An experienced bankruptcy attorney can advise people as to which option is

Mortgage Modification Mediation Program Available for Chapter 13 Debtors in WI

The U.S. Bankruptcy Court for the Eastern District of Wisconsin employs a Mortgage Modification Mediation Program (MMMP). Chapter 13 debtors are able to take part in the mediation program and participation is voluntary. The goal of the program is to help debtors who are beginning the bankruptcy process obtain a timely mortgage modification and keep

Wisconsin Bankruptcy Filings Continue to Rise

Although the United States is now said to be out of the “Great Recession,” bankruptcy filings continue to rise nationwide. According to the U.S. Bankruptcy Court, “bankruptcy filings rose for the fourth consecutive year in 2010.” In fact, there was a 9.4 percent increase in national bankruptcy filings in the past year. Wisconsin filing rates

Reduction in Wisconsin Foreclosure Filings, Not a Trend

Improperly Submitted Foreclosure Documents In Wisconsin, foreclosure filings fell in November to their lowest total in two years. With unemployment rates rising, this was a curious development. Analysts were quick to point out that this apparent good news masked the real reason for the decline. For the past few months, there have been revelations that

Is Bankruptcy the Best Option for Me?

Most people do not consider bankruptcy the best option-at first. But for many in Wisconsin, the debt elimination offered by Chapter 7 or the structured repayment plans offered by Chapter 13 can be a real life-saver. Even if you’re scared of bankruptcy due to old stereotypes, it’s good practice to get advice from the experts.