go to site Eliminating a Second Mortgage Could be a Good Option for You
You may be able to save your home and eliminate your second mortgage under Bankruptcy Chapter 13 laws!
The purpose of filing a Chapter 13 Bankruptcy in Denver is to re-organize your debt. Simply put, it’s a way to repay some or even all of your debt under better terms. We use a formula known as the means test to determine your future income and what portion of your debt should be reasonable for you to repay. You also get to keep all of your personal property in a Chapter 13. There may be additional tools available to you by filing a Chapter 13 such as eliminating your second mortgage, stopping foreclosure, reducing the principle balance owed on your vehicle, stopping repossessions, tax relief, back child support payment, and temporary student loan relief. Each case is unique and your Denver Bankruptcy attorney will create the best legal strategy for your case.
To qualify for a Chapter 13 Bankruptcy a debtor must be able to pay their reasonable monthly living expenses and pay the Trustee of their case to consolidate their debts. You will need a source of income. You can also visit Colorado Bankruptcy Court Website here.