240-575-1033 1-800-778-1640 240-575-1033 | 1-800-778-1640

Foreclosure/Repossession

Licensed in Maryland, West Virginia and Pennsylvania

How You Can Avoid Foreclosure

Attorney Arthur Boyce understands exactly how much your home means to you and exactly how much you depend on your automobile. If you face the possibility of foreclosure on your home or the repossession of your vehicle, you have serious problems. He can help. From his office in Frederick, Maryland, he has represented people throughout the Tri-State area in the bankruptcy process. Call 240-575-1033 to schedule an appointment with a bankruptcy lawyer.

What Are My Options If I File Bankruptcy?

Filing for bankruptcy offers immediate and long-term benefits. One immediate benefit of filing for bankruptcy is the automatic stay. Under the automatic stay, your creditors must end all efforts to collect on your debts. Filing for bankruptcy will stop a foreclosure or repossession in its tracks and buy you time to determine a plan of action.

If you file Chapter 7 bankruptcy, you can get rid of all your liability on the mortgage. If you want to save your house, you need to file Chapter 13 bankruptcy. Chapter 13 gives homeowners who are not current on their mortgage a number of long-term benefits. You will have the opportunity to repay your past due mortgage balance over time and in certain circumstances, you can remove a second mortgage in a Chapter 13 filing. If the value of your home is worth less than the remaining balance on your first mortgage, you can get rid of your second mortgage. This is known as lien stripping, and can offer huge savings to you.

If you face the prospect of losing your car, bankruptcy will stop repossession, allow you to keep your vehicle, and possibly reduce your monthly car payments. One option is to “redeem” your car. In the redemption process, you will be able to pay the fair market value of your vehicle, rather than the value of the loan.

Take Action Today. Contact Arthur W. Boyce To Learn More.

Call 240-575-1033 or e-mail the Law Office of Arthur W. Boyce today.

The Law Office of Arthur W. Boyce is a debt relief agency which will help you obtain relief under the Bankruptcy Code.