Indianapolis Home Foreclosure Attorney

Bankruptcy Options in Foreclosure

Foreclosures have reached an almost epidemic status across the country, throughout Indiana and in the communities around Indianapolis. Families who only a few months or years ago were managing well, now find themselves behind on their mortgage payments.

If you are facing foreclosure or are feeling overwhelmed by a tidal wave of debt, don't let inaction or helplessness lead you down a path toward homelessness. You have options and protections under bankruptcy laws that can help you reorganize, restructure and rebuild. Our attorney, Portia Douglas, works with families and individuals to provide personal service designed to help you take back control of your financial future.

Take Action Against Foreclosure

The time to file bankruptcy must be determined based on your fact situation. Our lawyer will help you consider your options and dispel some of the myths, but ultimately you and your family will need to decide on what is right for you.

We see people every day who simply feel overwhelmed by the threat of foreclosure. Unfortunately, inaction can do more harm than good and — as the foreclosure process moves forward — many folks encounter increased late fees and other penalties and costs associated with processing the foreclosure. The longer you take no action, the more costly actions maybe taken against you. If you can file Chapter 13 before foreclosure is filed, it may save you foreclosure attorney fees and all the costs associated with foreclosure which can add up to thousands of dollars. There are a lot of variables that must be considered in the timely filing of a bankruptcy and these decisions should only be made after a bankruptcy attorney has a complete snapshot of those variables.

It is important to say that sheriff sale is the final deadline for keeping your house. Once your house is sold at sheriff sale, bankruptcy cannot help you regain your home. It's too late. As a practical matter, if you wait to file bankruptcy close to the sheriff sale, your attorney is more likely to ask for a higher retainer because of the increased responsibilities to meet a close deadline. In other words don't wait to the last moment if you want to keep your house. Our office can work with you to consider the full options and potential benefits of filing Chapter 13 or Chapter 7 bankruptcy and discuss how it may help you save your home or discharge your mortgage obligations. Our goal is to set up a customized plan around your particular needs and situation that will put you back on the path of steady home ownership and financial health.

We may even be able to eliminate the burden of a second mortgage if the value of your home is equal to or less than the debt on your primary mortgage, but we can only help you regain control of your financial future if you take the first steps.

Contact Our Office Today for a Free Consultation

Even if you are not certain that bankruptcy is a viable option for you, it is better to have the knowledge and guidance to make informed decisions. Call our Indianapolis office today at 317-204-2292 to schedule an initial consultation to discuss your options. Our bankruptcy attorney has over 20 years of experience in these issues.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.