Chapter 13 Bankruptcy Lawyer in Steubenville, OH Can Help You Save Your Home
Repay your debts and rescue your assets
In unstable economic times like these, many homeowners find themselves at risk of losing the asset they value most, both financially and emotionally. Filing Chapter 13 bankruptcy in West Virginia, Ohio or Pennsylvania allows you to keep property and pay debts over time, usually three to five years.
More than 40 percent of the HAMP home loan modifications filed through early 2012 have failed. Even if you have attempted a loan modification, you can still save your home from foreclosure. I am Roger A. Isla and as an experienced West Virginia and Ohio bankruptcy attorney, I understand every aspect of Chapter 13 and can help you take the necessary steps to save your home by developing a plan to repay all or part of your debts.
How do you qualify for Chapter 13?
Chapter 13 bankruptcy is also called a wage earner's plan. You may qualify for Chapter 13 bankruptcy if you have enough income, after subtracting certain allowed expenses, to meet a repayment plan. Like Chapter 7 bankruptcy, Chapter 13 is for individuals and families. The advantage over Chapter 7 is the ability to avoid liquidating your assets. You can qualify for filing Chapter 13 bankruptcy in West Virginia and the tri-state area if:
- You have sufficient income to meet your repayment plan
- Your secured debts (like a mortgage) do not exceed $1,081,400
- Your unsecured debts (such as credit card balances) do not exceed $360,475
- You are up to date with your income tax filings
How Chapter 13 can save you from foreclosure
Once your Chapter 13 bankruptcy petition is filed, your home is protected by an automatic stay. This is a legal order that immediately stops any further communication or attempts to collect debt by a creditor, collection agency or government entity. The stay immediately prevents:
- Utility disconnections
- Wage garnishments
The stay is a temporary action. But as long as you can make the arranged payments, your property will be safeguarded under Chapter 13 bankruptcy laws. Whether your home is in Steubenville, OH, Weirton, WV, or anywhere in the tri-state area, the Isla Law Offices can start this process for you immediately.
Take the first step to saving your home
We can help you keep your home through Chapter 13 bankruptcy. Payment of your fee is comfortably spread out over the three to five years that you have to make your Chapter 13 payments. Make an appointment for a free consultation with me, attorney Roger A. Isla, at our Weirton office at 304.914.3573 or our Steubenville office at 740.264.3700 or contact Isla Law Offices online. Our office is conveniently located in downtown Weirton and is accessible from anywhere in the West Virginia panhandle, eastern Ohio or western Pennsylvania. Before your visit, I will let you know what materials to bring that will allow me to effectively assess your bankruptcy options.