If you currently have a hard time with your finances, you may be a little discouraged due to the fact that you may have to go through the Foreclose Process in Kilgore TX. If you are behind on your monthly mortgage payment, you need to get in touch with a bankruptcy lawyer as soon as you can. This way, you may be able to avoid having to go through the Foreclose Process in Kilgore TX.
Your lawyer will bring you into his office to talk about the type of debt that you have. This way, it can be determined which type of bankruptcy would be best for you. If your home is in danger, a Chapter 13 may keep you in your home. Every situation is going to be a little different and this is why it is important to hire someone who knows how to protect you during this time.
If you have other debt, you may be able to put it in your bankruptcy so that it can be taken care of. When you do a Chapter 13 bankruptcy, you will be expected to pay back a portion of your debt. However, if you fall behind on your monthly payments, you will be defaulting on your loan. This means that you may lose your home.
One of the many benefits of filing a Chapter 13 bankruptcy is that you can avoid the Foreclose Process in Kilgore TX. Another benefit is the fact that you will be paying back all of your bills with a reduced monthly payment. For example, maybe you have a car payment for $300. A mortgage payment for $1000. Several medical bills for another $300. Not to mention, your credit card debt which totals $200 each month. This is a total of $1800. A portion of this debt will be forgiven. Because of this, you may be able to get by with less than $1500 in payments each month. Of course, every situation is going to be different and this is why it is crucial to hire a lawyer who can help you get through the Foreclose Process in Kilgore TX.