St. Louis foreclosure rates have been right along with the rest of the nation, with about 1,700 foreclosures in St. Louis city alone per month. A possible cause of our high number of foreclosures is that people are not aware that they have more options than loan modification or debt settlement. Many folks are applying for loan modification but are finding themselves unable to get approved. Only an alarming 4% of applicants for loan modification are seeing an approval. To make matters worse, many lenders are taking up to a year and a half to finally tell the other 96% of people who apply that they cannot be approved." At that point, most people are too far behind on their mortgage to be able to catch up, leaving many without protection from a foreclosure that is knocking at their doors.
Luckily, there are more options, of which some are not aware. Bankruptcy attorneys in St. Louis or Wentzville, Missouri and Fairview Heights, Illinois are prepared to curb the foreclosure crisis with Missouri or Illinois chapter 13 bankruptcy. Chapter 13 bankruptcy not only provides protection from foreclosure, but also helps families reorganize their debt. It allows you to keep the things that are most important to you safe and handles the rest of your debt, preventing your home from being sold at auctions and preventing your creditors from taking any further action against you.
How do you know when to file for bankruptcy or if you even should file chapter 13 bankruptcy? The best place to start is with free information from Missouri and Illinois bankruptcy lawyers in your area. While most attorneys offer a free consultation, the best attorneys offer free articles, blogs, bankruptcy faq, and even free books to help you understand bankruptcy and how it can help you. If you choose the best bankruptcy attorney, he or she should be more than willing to provide you with more than enough information about bankruptcy before you even speak with him or her. Any attorney who isn't willing to provide you with free information may not be willing to do the "extras" required in many bankruptcy cases too.
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
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