Residential foreclosures have hit an alarming number in the St. Louis area and are even worse in some other parts of the country. Families who were always current on their bills are now falling behind and even seeing foreclosure notices in their mail. How can these hard-working Americans protect their families from foreclosure?

If the idea of a loan modification saving your home is making you nervous, your fears are not unfounded. Loan modification used to be a great option for families who had fallen behind on their mortgage but is no longer what it used to be. Why? The largest lenders haven't been able to push loan modification requests through and help families get relief or protection from foreclosure. In fact, Bank of America has only been able to approve 4% of homeowner's requests.

Those statistics don't exactly bring comfort and security to Missouri and Illinois homeowners. There is, however, a tool that can get you more reliable protection from foreclosure. A Missouri or Illinois Chapter 13 bankruptcy stops the sale of your home and lets you get a handle on the rest of your debt. How? With an automatic stay, a St. Louis bankruptcy lawyer prevents your creditors from continuing to harass you and allows you to get a handle on the rest of your debt.

If you are having trouble making your mortgaeg payments, you are probably having trouble with your other bills. Missouri and Illinois Chapter 13 works for homeowners because it not only stops their foreclosure but helps them with the rest of their debts.

How could bankruptcy have that much power? Bankruptcy is a federal law that your creditors must accept. With the help of a St. Louis, Missouri bankruptcy attorney, your creditors will have to play on your turf.

Bankruptcy can even provide relief if your home has already been sold at auction. If your home is sold for less than you owe, you will still owe the difference to your creditors. A Chapter 7 bankruptcy in Missouri and Illinois can actually eliminate the deficiency balance, along with your other unsecured debts. Plus, you get all of the other benefits of bankruptcy like stopping a wage garnishment, stopping repossession, and relief from harassing creditor calls.

Filing bankruptcy can be one of the most powerful moves you make against your creditors. Remember, though, bankruptcy may not be the best option for everyone. Find free information to educate you and your family before even calling a St. Louis Missouri bankruptcy attorney.


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Missouri Bankruptcy attorney James Brown has been working to relieve the debt of hard-working American families for over 15 years. He has dedicated his career to educating consumers about options for debt relief and has released 5 publications, including, "Get Out of Debt: Secrets Your Creditors Don't Want You to Know." You can request a free copy at http://www.castlelaw.net