Having your home forclosed on or vehicle repossessed due to lack of payment can be a devastating experience that no one wants to have. There are a number of different steps you can take, however, to keep this from happening. First, you need to stop repossession with a bankruptcy lawyer in Maryland Heights. This type of attorney is well-versed in all areas of repossession and bankruptcy and will offer valuable advice on the best course of action to take for your specific situation. Contrary to what many people may think they know about bankruptcy, if you have the proper legal advice you can navigate filing for bankruptcy with many options available to you. To make the best of a tough situation, let an experienced bankruptcy attorney learn the details of your situation so you can get sound advice on the best way to work on getting out of repossession.
Possible recommendations from a bankruptcy attorney regarding repossession of your home may include:
- Filing Chapter 7 or Chapter 13 bankruptcy.
- Paying the amount of the mortgage arrears in full.
- Paying the amount of the mortgage arrears in a prescribed payment plan.
- Paying as much of the mortgage as you can each month.
- Selling your house as quickly as possible and buying another that is less expensive.
- Selling your home and renting it back.
- Refinancing with an interest-only mortgage or release some of your equity to pay the amount in arrears.
- Paying off your mortgage debt and selling your property with a real estate agent.
The recommendations for a vehicle that you are behind on payments typically follow much the same path.
Consult the professionals at Teague & Associates, LLC to gain important information and guidance about how to stop repossession with a bankruptcy lawyer in Maryland Heights. Call us today at (314)899-4499 to schedule a consultation to discuss your case. Our experience and expertise can help you save your property from being taken from you.