Loan Modification Through Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is referred to as “clean slate” or “fresh start” bankruptcy.  A major change has recently occurred in the Middle District of Florida bankruptcy courts.  The Judges have now implemented a mortgage modification mediation program in Chapter 7 bankruptcy filings.

Previously, this loan modification mediation program was only available under Chapter 13 filings which require you to be in bankruptcy for three to five years and maintain sometimes difficult monthly payments.

Now, with the new Chapter 7 program, you can attempt to get a loan modification while at the same time ridding yourself of all your dischargeable debt.  Dischargeable debt typically includes:  credit cards, judgments, collection accounts, medical bills, pay-day loans, and sometimes taxes.  The best thing about the new Chapter 7 loan modification program is that a typical Chapter 7 only last about four to six months with one hearing.

This way, you can not only save your home from foreclosure, but also eliminate the majority of your other debt.  Contact the Law Offices of Keith D. Collier today to find out more about this new, groundbreaking program.  We offer free in-office and phone consultation.