-- In a recent interview, Bryan P. Keenan, a leading bankruptcy attorney and founding partner of Bryan P. Keenan & Associates, P.C. in Pittsburgh, PA, discussed the ways he assists clients prevent a foreclosure sale of their home.
For more information please visit https://bryankeenanattorney.com
"Foreclosure can be devastating, leading to a loss of a home and leaving people with a profound sense of loss," Keenan stated that he helps people save homes by filing for relief under Chapter 13 of the Bankruptcy Code.
Keenan stated, “when a Chapter 13 bankruptcy is filed an automatic stay is issued that stops the foreclosure, and enables them to file a three to five year manageable repayment plan to catch up on the past due payments”
He explained that a Chapter 13 Bankruptcy is considered a compressive plan to address all of their debts, enabling them to keep their property, while repaying creditors in a structured way. In a Chapter 13 you are often able to lower the interest rate on car loans and extend the repayment period for up to five years, which can significantly reduce monthly payments. In addition, unsecured debts, which are debts that are not secured by collateral (e.g. credit cards or medical bills) do not have to be repaid in full (or at all) under most plans.
"In my experience, through the implementation of a repayment plan my clients are able to manage their mortgage and car payments, with some minor adjustments to their spending priorities. I assist my clients on which expenses can be cut and which debts can be postponed, freeing up funds that can then be allocated to mortgage and car payments," he said.
There are many different issues to consider before filing for bankruptcy. For starters, you should seek the advice of a bankruptcy attorney to carefully examine your financial circumstances as well as the ins and outs of the Chapter 13 process. He cautioned people not to delay and seek legal advice to safeguard their assets.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Bryan Keenan
Email: Send Email
Organization: Bryan P. Keenan & Associates
Address: 993 Greentree Rd #101, Pittsburgh, PA 15220,
Phone: 412-922-5116
Website: https://bryankeenanattorney.com
Release ID: 89149833
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