However, what surprises me and many other bankruptcy attorneys in North Carolina is the notion that bankruptcy and loan modifications are mutually exclusive options. What many individuals do not realize is that bankruptcy can be filed in conjunction with negotiating a loan modification.
With Chapter 7 Bankruptcy, for example, it is possible to file bankruptcy in order to deal with unsecured debts, such as credit cards and medical bills, and then, almost immediately thereafter, apply for a loan modification. Alternatively, individuals may apply first for a loan modification and then file for Chapter 7 bankruptcy after the loan modification is completed. When a Chapter 7 Bankruptcy is combined with a loan modification, the result can be an extraordinary debt-fighting strategy.
For more mortgage relief information, feel free to contact a mortgage relief and bankruptcy lawyer in North Carolina, Jefferson Mabrito, at 704-209-7540