Foreclosure Defense vs. Bankruptcy

If you are struggling with mortgage debt, it is important to explore all of the options available to you. At Atlas Consumer Law, we represent clients throughout Chicago with a wide range of debt relief matters, including foreclosure defense and bankruptcy. Our experienced lawyers can provide you with sound legal guidance in helping you keep your property and resolving your debt problems.

Contact us today online or by telephone at (312) 313-1613 to speak with an experienced Chicago foreclosure attorney.

Foreclosure Defense vs. Bankruptcy

We cannot tell you whether or not foreclosure defense or bankruptcy is better for you until we gain a full understanding of your situation. However, here is a general overview of some of the advantages offered by both options:

  • The advantages of foreclosure defense include:
  • Can spare you from the adverse effects bankruptcy will have on your credit rating.
  • Can spare you from unscrupulous mortgage lenders and hold them accountable for their actions.
  • An experienced attorney can help you negotiate more favorable terms with your mortgage lender.
  • The advantages of bankruptcy include:
  • Wipes out debt (Chapter 7) or restructures it into a manageable payment plan (Chapter 13).
  • Protects you from creditor actions like harassment and wage garnishment.
  • Can help you avoid the tax consequences associated with some foreclosure defense options.

Remember, foreclosure and bankruptcy can also go hand in hand. In some cases, you can benefit greatly by filing for bankruptcy first, then applying foreclosure defense strategies. Our Illinois lawyers can help you explore all of your debt relief options so you can decide the course of action that best suits your needs.

Are you facing home foreclosure? Contact us today online or by telephone at (312) 313-1613 to speak with an experienced Chicago foreclosure lawyer.

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