Can a second mortgage be discharged in bankruptcy?
If you’re being called and harassed by creditors nonstop, filing for Chapter 7 bankruptcy might be the right solution to putting an end to all of it. Once a Chapter 7 bankruptcy is filed, creditors are forced to stop calling you, and must legally cease all harassing debt collection activity. While not all debts are forgivable through Chapter 7, this chapter serves as a last resort option for many people.
Chapter 7 bankruptcies cannot be used to get rid of a second mortgage. This is why many people opt for Chapter 13 bankruptcy instead. Chapter 13 bankruptcy sometimes allows for a second mortgage lien to be lifted.
A Chapter 13 can allow you to strip the 2nd mortgage off of the house completely. Once filed, you must return to paying your original 1st mortgage payments almost immediately. A judge has the ultimate say of granting a Chapter 13 or not, but your lawyer is the one who will work with you to determine if your monthly budget plan is feasible or not.
The Law Offices of Omar Zambrano are aware of the tricky nature of Chapter 13 bankruptcies, which is why we like to build open and honest relationships with clients so that we can be realistic and ultimately successful.
It’s very important that when you are seriously considering filing for any type of financial bankruptcy, that you have weighed all of your options. You should also have significant research and information. You can count on the Law
Offices of Omar Zambrano to provide you with the most upfront, thorough information needed to making this type of decision.
If you are looking for a way to get your financial future straightened out and to stop harassing creditors seeking money, bankruptcy may be the best option for you.
Call the Law Offices of Omar Zambrano today to schedule a free consultation.
CALL US AT OUR 24 HOUR CUSTOMER SERVICE HOTLINE: 1-800-562-0004
Our Business Hours are:
When you face financial troubles, Attorney Omar Zambrano is here to help!
Contact us today to schedule your FREE CONSULTATION.
We offer a low monthly payment plan!