Legal Question in Bankruptcy in Illinois

seniors in despair

We are seniors that are finding that we cannot keep up with our mortgage and expenses. If we file bankruptcy will we lose our home?


Asked on 2/02/08, 12:59 pm

1 Answer from Attorneys
Terrance Leeders Leeders Law

Re: seniors in despair

Chapter 13 is designed to get you caught up on your mortgage, while protecting your assets. Chapter 7 can eliminate consumer debt, but you would need to catch up on the mortgage on your own. Depending on the value and equity in the home, chapter 7 may or may not be an option. Contact me at the contact below and I'll be happy to give you a free consultation.

Thanks

Terry Leeders

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Answered on 2/04/08, 10:38 am


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