- Posted by Dan
- On August 15, 2011
- 0 Comments
- "Chapter 13", bankruptcy, Chapter 7, debt relief, knoxville bankruptcy, Modification
Knoxville Loan Mod Lawyer
If you are overloaded with debt, the collection calls increasing, or you’re just avoiding answering the phones at all, you are not alone.
For many individuals getting debt relief through a Chapter 7 or Chapter 13 bankruptcy is the likely answer. However, many homeowners refuse to consider bankruptcy until they’ve gone down the loan modification trail.
For most people that try loan modifications, after months and months of follow up, frequent re-faxing documents that were sent last month, or the month before, the end result is no loan modification. By now your payments are likely substantially in arrears.
The Knoxville – Sevierville lawyers at Scott Law Group, PC have spent over 28 years guiding families through the crisis of the potential loss of a home or car. We understand the pressures you are under and the options that are available. Of course, bankruptcy is not for everyone, but Congress established the bankruptcy system to help good folks in difficult circumstances. If that’s you, then perhaps you should consider a Chapter 7 bankruptcy or a Chapter 13 bankruptcy.
Don’t trust this situation to amateurs (or paralegals), engage an experienced bankruptcy lawyer.
Our convenient location with free door-front parking is provided for your convenience. (We like it too!)
If you are still pursuing loan modification, the lender will consider your finances, the terms of your current mortgage and whether you are going through particular hardships that my pass soon. In rare circumstances the lender may modify your loan to reduce the payment or reduce the interest rate. Perhaps you can extend the term of the loan which will reduce your monthly payments.
Remember however, that the lender is under no obligation to modify the mortgage despite assurances that you may receive.
Just know you can get debt relief today, but you’ve got to take the first step.
Contact Knoxville Bankruptcy Attorney Dan Scott
Call us today at 865-246-1050 to schedule a free consultation with an experienced bankruptcy lawyer. Take experience to court with you.