Cook County Bankruptcy and Foreclosure Defense Attorneys

Illinois Defense Attorneys Helping With Bankruptcy and Foreclosure

At the law firm of Newland, & Newland, LLP, we represent clients in our Chicago and Arlington Heights offices in Cook County, Illinois, who are dealing with bankruptcy and looking for ways to manage their debt, while preventing foreclosure on property they may own.

We offer foreclosure defense options that do not involve bankruptcy.

With over 60 years of combined legal experience, we have guided our clients through the process of filing for Chapter 13 bankruptcy vs. Chapter 7 bankruptcy and have effectively represented clients, by utilizing aggressive foreclosure defense tactics. One of our attorneys has been featured on the front page of the Northwest Herald and has been a featured speaker at the annual Lake County Bar Association’s Real Estate Committee seminar, discussing bankruptcy.

Many times when individuals and businesses file for bankruptcy, there is the fear that everything they own will be lost. This is not entirely true, and our Cook County bankruptcy attorneys can explain how bankruptcy stops your creditors from harassing you, and how bankruptcy can help with foreclosure. To see how we can address your needs, contact our law offices in Chicago and Arlington Heights for a free initial consultation. Call (847) 797-8000.

Qualifying Differences between Chapter 7 and Chapter 13 Bankruptcy

If you have a huge portion of unsecured debts like credit card bills or medical bills, based on whether or not your income is low enough for Chapter 7 Bankruptcy, along with other qualifying factors, the majority if not all of your debt, could be eliminated.

However, if you don’t qualify for Chapter 7, the other option would be to file for a Chapter 13 bankruptcy, which would give you a repayment plan period of 3 to 5 years to pay off all your debt, provided you have enough stable income and can prove to the courts you are able to meet the requirements. Since there are many complex issues surrounding the new bankruptcy law changes to Chapter 7 and 13, it’s best to consult with our knowledgeable attorneys.

With Chapter 13 bankruptcy we can often time loan strip. Loan stripping involves removing the second or third mortgage.

Cook County Commercial and Residential Foreclosure Representation

If you’re the owner of a small business struggling to make your mortgage payments on a commercial property you are leasing, or you’re the owner of a large corporation, our attorneys are equipped to provide you with commercial foreclosure defense representation in litigation. Many times our clients seek legal counsel about how they can fight foreclosure or purchase affordable real estate that is suitable for their financial situation. Regardless, we can help.

If you’re a new homeowner, our residential foreclosure attorneys have won cases by enforcing HAMP (Home Affordable Modification Program) laws, for those individuals who have fallen behind on their mortgage payments and need help seeking loan modifications from lenders who have refused granting them to borrowers in the past. Even for people who have been making their mortgage payments on time, but can’t lower their interest rates, our attorneys can help with refinancing by enacting HARP (Home Affordable Refinance Program) laws.

Cook County Attorneys Serving Your Needs

To learn more about our bankruptcy and foreclosure defense services and how we can offer you legal support and guidance, contact Newland, & Newland, LLP by calling (847) 797-8000.

  • Newland & Newland LLP, Attorneys, Arlington Heights, IL