STOPPING FORECLOSURES IN GREEN BAY AND THE SURROUNDING AREAS

We'll Help You Keep Your Home

Most Americans would define home ownership as a crucial component of the “American dream.” During times of economic hardship and pervasive job loss, the prospect of home foreclosure is an increasingly stark and heartbreaking reality for many. However, falling behind on mortgage payments does not make foreclosure unavoidable – there are options in place, like Chapter 13 reorganization, to protect homeowners.

ELIMINATE CREDIT CARD DEBT

Is Plastic Taking Over Your Life?

Skyrocketing interest rates and penalty fees from late or missed credit card payments can accumulate quickly to create an untenable situation for any struggling person or family.

• Are you barely making the minimum payments on your credit cards?
• Do you receive harassing calls from debt collectors every day?
• Are you using credit cards to pay for food or utilities?
• Do you feel overwhelmed by credit card debt, to the point you are uncertain of how much you actually owe?

If you answered yes to any or all of these questions, we can help!

Skyrocketing interest rates and penalty fees from late or missed credit card payments can accumulate quickly to create an untenable situation for any struggling person or family. If your debt cycle appears to be spinning out of control, we encourage you to call the Law Offices of John A. Foscato, S.C..

Speaking to an experienced professional who tackles these issues on a daily basis will help you to become centered again, and focus on the situation at hand. We will schedule a free initial consultation and review your circumstances and determine the course of action that is best for you.

CHAPTER 13 BANKRUPTCY ATTORNEY

Chapter 13 Bankruptcy

For many individuals who are in serious need of financial relief but who are not willing to risk their homes, automobiles or other secured collateral, Chapter 13 Bankruptcy is often the best option. Chapter 13 clients, who make up half of our filers, often have disposable income available to pay some amount per month, but not what creditors are requiring.

Chapter 13 Bankruptcy caters to individuals/families in financial hardship, somewhat different than those in Chapter 7 bankruptcy. It's designed to help them reorganize their debts into a manageable payment plan. Debtors filing for Chapter 13 protection typically have a steady source of income, and attorney John A. Foscato will work as a liaison between them, their creditors, and the court to arrive upon a restructured payment plan for a portion of their debt over a three to five year period, during which time, they are protected from wage garnishment, lawsuits and other creditor collection actions. Chapter 13 can:

• Stop Foreclosure
  
• Stop Repossession
  
• Reduce your interest rates to near 5%
  
• Lower your loan balance to fair market value (in some instances)

Protection Against Foreclosure And Repossession

Because Chapter 13 Bankruptcy involves the court and your personal commitment to a payment arrangement, it is the ideal way to get relief from overwhelming debt without losing your assets, such as your house or car. Once your Chapter 13 petition is filed, any creditor action against you, your property and even any co-signers involved is automatically halted. Individuals with businesses are also protected and can continue to operate.

Get Some Breathing Room

We’ve all heard of large corporations, such as airlines, declaring Chapter 11 bankruptcy, which allows the business time to restructure internally and make changes that will put it back on the road to fiscal health and re-emerge, rather than close its doors. Similarly, Chapter 13 gives you the chance for some much-needed breathing room while still honoring some of your debts and holding on to your assets.

For many individuals who are in serious need of financial relief but who are not willing to risk their homes, automobiles or other secured collateral, Chapter 13 is often the best option.

FILING FOR CHAPTER 7 BANKRUPTCY PROTECTION

Eliminate Your Debt and Get a Fresh Start! Contact The Law Offices of John A. Foscato, S.C. Today!

Chapter 7 Bankruptcy is an option available to both businesses and individuals and is utilized by roughly 50% of our clients. The principal distinction between it and Chapter 11 and 13 bankruptcies is that it allows for complete forgiveness of unsecured debt without payment, as opposed to debt reorganization, like Chapter 13. Exceptions to what debt can be discharged exist, however, for various forms of property, liens, student loans, child support and more. Generally speaking, it is unsecured debt, such as debt from credit cards or unpaid utility or medical bills, which will be forgiven when a Chapter 7 bankruptcy is approved by the court.

File Your Petition and We’ll Take It From There

A trustee will be appointed to your case and, in most instances, you will receive a court-ordered discharge, releasing you from liability for the debts that qualify as dischargeable, within a few short months. The vast majority of individual Chapter 7 cases do not even require a formal court appearance, you simply briefly meet with a Chapter 7 trustee. True relief is right around the corner - contact our offices today, and we will be happy to answer any questions or concerns you have!

Some Qualifications

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act, which effectively made it more difficult to declare Chapter 7 bankruptcy. Specifically, a “means test” was instituted for consumers attempting to declare bankruptcy whose monthly income is found to be higher than the median income of the state.

As indicated by its name, this act is intended to prevent abuse of bankruptcy law, not to prohibit qualifying individuals from seeking protection under the law. The median income threshold will vary from state to state – if you are considering filing for Chapter 7 bankruptcy protection in the greater Green Bay, Wisconsin area, we urge you to call us today for a free consultation.