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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

  • review rating 5  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
  • review rating 5  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
  • review rating 5  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
  • review rating 5  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
  • review rating 5  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
  • review rating 5  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
  • review rating 5  Debt Advisors Law Offices rock! I went into bankruptcy not knowing what to expect but Mr. Pietrek who represented me put my mind at ease. Mr. Pietrek answered all of my question in-person and on the phone. I never felt uncomfortable or embarrassed. The amount of money I had to pay was like half the amount I would have had to pay going through ay other firm. If for some reason I had to go through bankruptcy again there would be no one else I would use. Good people good prices great services.

    thumb CJ M
  • review rating 5  I am so grateful for the Debit Advisors in assisting me to get my life back on track. I have great respect for them. Debit Advisors has integrity! I was in a very difficult situation and they guided me through. They were honest with me about what I could and could not do, what is allowable and not allowable, they got bill collectors off my back and they replied back to me in a timely manner when I had questions. As long as I did my part in the process, they more than did their part.

    thumb Kathy Carter
  • review rating 5  Awesome experience! Helpful all the way through the process. Saved our lives.! Chad was great and everyone was so helpful.

    thumb michael sabel
  • review rating 5  Chad makes bankruptcy look and feel easy. He was very transparent, to the point, and comforting throughout the process. Any questions via email or call, were responded to in a beyond timely fashion. I would highly recommend working with Debt Advisors to get your fresh start.

    thumb Alexandria Jackson

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