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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

  • 5 star review  They helped me during my bankruptcy case. They were great and very professional. I recommend them to anybody going through this process.

    thumb Maria Hernandez
  • 5 star review  They helped me during my bankruptcy and to feel comfortable throughout. And have been amazing in follow up even years later.

    thumb Ud Ho
  • 5 star review  My experience with Debt Advisors was truly a blessing in disguise. My wife and I were truly elated to be a part of a first time home buyer program with a well known state agency. This however turned out to be a nightmare We were one of the many who, during the Bush years ended up getting locked into a merciless ,ever increasing mortgage that was supposed to have a fixed rate. After countless attempts to try for modification or refinancing we soon found out the state agency didn't allow for such recourse. We felt the weight of the world was on our shoulders. That was when we decided to try Debt Advisors. Their attorneys were very knowledgeable and assuring. They were a great help in lifting what was a grievous burden. I would recommend their services to anyone.

    thumb anthony mosley
  • 5 star review  I filed a chapter 7 bankruptcy at Debt Advisors with Attorney Janice Nabke and the entire experience was nowhere near as stressful as I was worried about thanks to Janice who was very caring and dedicated to doing everything she could to make the whole process as simple as possible. Janice is very experienced with Bankruptcy cases and knew every correct step to take and was very detailed in explaining everything that I needed to prepare for and what to expect from beginning to end but what really stood out to me was how nice she was with a great personality so I would like to thank her for all of the hard work she put fourth and would highly recommend her to anybody seeking bankruptcy assistance. I would like to make special mention to Holly Mclure Larson who helped me out more than I could possibly imagine and went far above and beyond my highest hopes and expectations after I was still facing harassment and threats from a VERY aggressive Collection Agency trying to collect on the discharged debt and due to the very gracious help from Holly who is FANTASTIC I feel so much better and cannot thank her and the entire team at Debt Advisors enough.

    thumb alex avila
  • 5 star review  Debt Advisors is a wonderful company and I highly recommend them. Attorney Mike Georg has been so easy to work with and extremely helpful and kind throughout the process. Other amazingly helpful and caring staff I worked with were Holly, Julie and Jess. Thank you all!

    thumb Mary Jean
  • 5 star review  Awesome services, I went there feeling impending doom, and left with certainty that someone cares. Michael Georg was friendly and helpful informing me on what is best for my family.

    thumb Charles Sutton
  • 5 star review  My experience with Debt Advisors was wonderful, Michael Georg and his staff are very respectful, helpful and knowledgeable about the steps that need to be taken in your case. My case was simple but challenging for me but they made sure that I didn’t panic and they were able to resolve my case in a very quick and timely manner. I appreciate the time and consideration that they took with my case. Would highly recommend

    thumb Bradley Harrison
  • 5 star review  Debt Advisors is a Top notch law firm!! I was an emotional mess. Lawyer Michael Georg was so compassionate & understanding. He reassured me everything was going to be okay. He explained everything step by step. The cost was very reasonable & he works with you! He's the Best!! The ladies in the office were very sweet, also! I couldn't have found a better place to take care of me. Totally put my mind at ease. HIGHLY RECOMMENDED!!!!! You won't be disappointed!

    thumb Lauri Z
  • 5 star review  Excellent customer service and staff. Got back to me in a timely manner regarding any questions I had. Made filing bankruptcy easy and pain free.

    thumb Amanda Marie Holterman
  • 5 star review  I had an awesome experience with the entire team at Debt Advisors(D.A.). They made a very stressful and complicated situation very easy. When going into this I thought this process was going to be very long and stressful as I did not know what to fully expect. From my very first meeting to my last I had nothing but an easy and pleasant process. Every one was so knowledgeable and helpful! I could not have asked for a better team to assist me in my time of need. Sending a very big Thank you to all the staff at D.A. you guys are amazing.

    thumb Cecilia Brito

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