Robert & Jenny's Story

Overview:

• Owned mobile home, rented to sister
• Owed $17,000 on mobile home
• Payments became too expensive

THE PROBLEM
Robert & Jenny owned a mobile home that Robert’s sister was renting from them. They still owed $17,000.00 for the mobile home, and were considering surrendering it back to the bank, as the monthly payment had become too high for them. If they surrendered the mobile home, however, Robert’s sister would have nowhere else to live except Robert & Jenny’s basement.

THE BANKRUPTCY COMPANY SOLUTION:
Their attorney at The Bankruptcy Company put Robert & Jenny into a Chapter 13, which in their case allowed them to have to repay only the value of the mobile home ($7000.00), rather than their entire remaining loan balance ($17,000). This cut their monthly payments for the mobile home in half, allowing them to keep it.

Cathy's Story

Overview:

• Stay at home mom, husband died
• Mortgage company forclosed

THE PROBLEM
Cathy was a young, stay-at-home mom who home-schooled her children. When her husband died very suddenly, she was left with no source of income while the estate was being opened and settled. Her friends and her church helped out with some of her expenses, but her mortgage company refused to wait for the life insurance proceeds, and began to foreclose on her family´s house.

THE BANKRUPTCY COMPANY SOLUTION:
The Bankruptcy Company filed a Chapter 13 for Cathy, who was able to make a minimum monthly plan payment that allowed her and her children to keep their home. When the life insurance proceeds arrived 4 or 5 months later, Cathy was able to pay off her bankruptcy.