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How to Save Your Home

Wisconsin Home Foreclosure Attorney

If you believe you are in danger of losing your home because you have fallen onto hard times, you are strongly urged to contact an experienced home foreclosure attorney at Debt Advisors, S.C. today. Learn how Chapter 7 or Chapter 13 bankruptcy laws may hold the keys to saving your home.

Chapter 13 Bankruptcy is a Powerful Tool that can Save Your Home

Chapter 13 bankruptcy is a very powerful tool that can save your home if you have fallen behind on your mortgage payments and you want to rescue your home from mortgage foreclosure. As soon as you file Chapter 13 bankruptcy, an “automatic stay” goes into effect. This “stay” stops your mortgage company from continuing to foreclose on your home.

You can file a chapter 13 bankruptcy to stop a mortgage foreclosure, provided you:

  • Are employed or have a steady source of income;
  • Have enough income to make your Chapter 13 plan payments, and your current mortgage payments after the Chapter 13 is filed.

Chapter 13 plan payments are fixed so that you can meet all your living expenses first and then pay any surplus income to creditors.

Chapter 7 Bankruptcy May Offer Temporary Defense against Foreclosure

Chapter 7 bankruptcy is a liquidation bankruptcy. A Chapter 7 will typically eliminate:

  • credit card debt;
  • installment loans;
  • pay day loans;
  • medical bills, and most other unsecured debt.

In most cases, consumers will keep all of their property. If you are facing foreclosure on your home, the automatic stay created by your Chapter 7 filing serves as a temporary defense against home foreclosure. As opposed to Chapter 13 bankruptcy, Chapter 7 will give you a fresh start, but will not provide you with the opportunity to catch up with your mortgage payments.

However, Chapter 7 bankruptcy will allow you to discharge, or eliminate, any deficient balance owed to your mortgage company if your house is sold for less than the outstanding balance owed to the mortgage company.

Chapter 7 cannot stop a bank or mortgage company from foreclosing on property. Chapter 7 will temporarily delay the home foreclosure proceeding, but it cannot provide the long-term protection of Chapter 13 because no plan to repay the mortgage delinquency is proposed.

For more detailed information about home foreclosure and bankruptcy, see our home foreclosure resource center. We encourage you to contact a Wisconsin bankruptcy lawyer at Debt Advisors, S.C. to schedule a free initial consultation. We have offices located in Milwaukee, Madison, and Oshkosh.

We are a Debt Relief Agency. We offer legal advice related to bankruptcy, and help people file for relief under the Bankruptcy Code.

Milwaukee ● Madison ● Oshkosh ● Green Bay ● Sheboygan ● Racine & Kenosha

Reviews by Google Users

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    thumb Demetrick Fleming
  • review rating 5  I have used Chad and Jeremy for the past several years and both attorneys has been hands on with helping me resolve and realign many of my financial issue. Debt Advisors has helped my stress level of finances to settle in a more comfortable place. I would highly recommend Debt Advisors to anyone that may have made bad financial choose or found themselves in a place of hardship. Thanks Debt Advisors

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  • review rating 5  As a customer I was very glad with the level of service I received. I was both nervous and ashamed that I was going through the process of filing. My attorney was nonjudgmental, professional, and very knowledgeable. I had lots of questions and he patiently answered each of them helping me feel more confident in my decision making. I was unable to pay all fees up front and was happy to learn that there was a payment option where payments were deducted from my account until paid in full. Upon my final payment the process ran quickly and smoothly. I always felt like my best interest was at the forefront front the filing process, followup phone calls, reminder phones calls, the court date and discharge. I called the offices 3 years after filing and still, they were welcoming, supportive and informative even though I am not a current customer. This was the first step to me reestablishing myself as a conscious borrower and consumer.

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  • review rating 5  Both Cad and Michael were fantastic!!! They were dedicated and very helpful during my entire bankruptcy. Every step was explained as well as any question that I had (even if I asked three or four times) got answered. I would recommend this team to anyone that needs to swallow their pride and file bankruptcy.

    thumb Andrew Ossowski
  • review rating 5  Both Cad and Michael were fantastic!!! They were dedicated and very helpful during my entire bankruptcy. Every step was explained as well as any question that I had (even if I asked three or four times) got answered. I would recommend this team to anyone that needs to swallow their pride and file bankruptcy.

    thumb Andrew Ossowski
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  • review rating 5  My experience with debt advisors law office was an excellent experience. Chad and his partner we're very knowledgeable and their staff was very helpful through my whole process. As We Know this type of experience bankruptcy can be very trying and stressful however Chad and his staff made it a lot easier on me and I felt they did a wonderful job. I would recommend to anyone.

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  • review rating 5  A few years ago I found myself drowning in debt, after doing some research I decided I would get some help in dealing with that debt, so I reached out to Debt Advisors Law Offices. I was scared, nervous, and embarrassed that I had gotten to this point but after my first meeting with Debt Advisors I knew I was making the right decision. They made me feel comfortable and confident in my decision to move forward. The best part was it was all on my time, I felt no pressure from them which was amazing. They were always available to answer my questions and help me through the process. A couple years after my case closed, I reached out to get some information and within that same day they responded to me and remembered me! Truly a wonderful firm to work with!

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