I have been served with foreclosure or know that I will be soon. Should I file Bankruptcy?
Short answer: NO! When a homeowner is facing foreclosure considering filing for bankruptcy may be the homeowner's first response to the crisis. While bankruptcy is a powerful tool that can provide many benefits to a homeowner, filing bankruptcy at the mere filing of a foreclosure case is likely not the best response to the problem. The bottom line is bankruptcy causes a whole range of other problems that the consumer may be able to avoid by first focusing on fighting the bankruptcy.
Hire a foreclosure defense attorney in response to a foreclosure.
You wouldn't go to a dermatologist for a toothache would you? An experienced foreclosure defense attorney can likely provide the consumer with a substantial amount of relief from the foreclosure case and may be able to assist the homeowner in obtaining a mortgage modification. The legitimate threat that the homeowner will be forced to file bankruptcy if the lender pushes the foreclosure case if oftentimes enough to convince the lender to consider mortgage modification options they would not otherwise be willing to consider.
I'm buried in other debt and my wages are being garnished, what should I do?
If there are other factors going on, like wage garnishment, bankruptcy may be a reasonable solution to the problem. Because bankruptcy is a highly specialized and evolving field, I work closely with the attorneys at the Berkowitz Law Group counseling my clients in conjuction with their attorneys and preparing them for a proper bankruptcy filing if this becomes necessary. I encourage those interested in bankruptcy to visit the Berkowitz Law Group Website at http://www.berkowitzlawgroup.com/ for more information.