Can I Save My Home with Chapter 11?
You may have heard about people saving their homes and other property by filing for either Chapter 7 or Chapter 13 bankruptcy protection. However, if your income is too high to qualify for Chapter 7, or your debts are too great to qualify for Chapter 13, you may ask yourself, "Can I save my home and other property in a Chapter 11?" The answer is, "Yes!" Although most commonly used by struggling businesses, Chapter 11 is a viable option for certain individuals and provides many of the debt relief protections offered by other bankruptcy filings.
At the Atlas Consumer Law, our Chicago bankruptcy lawyers will thoroughly review your circumstances and let you know whether this type of filing is right for you. If you are facing the threat of foreclosure or repossession, there may be a way to save your property and get a new financial start in life.
Contact our Chicago consumer attorneys online or call (312) 313-1613 to find out how we may be able to help you.
Reorganizing Debt and Ending Creditor Harassment
If you do not qualify for Chapter 7 bankruptcy or Chapter 13 bankruptcy, Chapter 11 may be the only viable option. Although this filing is typically used by businesses, it can help certain individuals reorganize their debts and "cram down" their property payments to help reflect the true value of real estate in these troubled economic times.
A Chapter 11 filing provides many of the same benefits as other bankruptcy filings, including the institution of an "automatic stay," which will put an immediate stop to creditor harassment and collection actions. Our attorneys will thoroughly review your financial situation to determine whether Chapter 11 is the right fit for you. If you are overwhelmed by debt, there are options available that can help address your unique financial situation.
Contact our Chicago debt relief attorneys online or call (312) 313-1613 to schedule an appointment to discuss your situation.