Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Beware of Foreclosure Protection Schemes if You Are In Debt in Missouri and Illinois

Two women in Maryland learned that foreclosure protection schemes are not always what they seem—and they learned it the hard way. After falling behind on their mortgage payments due to medical bills , the women clung to an offer labeled “Your Best Hope has Just Arrived.” But instead of getting hope, the women were tricked into signing away the titles to their homes and were left facing eviction. The fraudulent mortgage company was caught and ordered to pay $100,000 to the two victims as restitution.

As any St. Louis Missouri or Illinois bankruptcy attorney could tell you, looking for protection from foreclosure is tricky business. The amount of loan modification and debt settlement scams has simply gone through the roof since the recession. Often, these firms promise to save your home without telling you they are charging hefty upfront fees, offering no legal protection, and putting you in dangerous situations like these two Maryland women.

What these two women didn’t know was that Missouri or Illinois Chapter 13 bankruptcy could have protected their homes from foreclosure, while also helping them stop wage garnishments, getting them credit card debt help, and preventing their creditors from taking any more action against them. To find out more about what bankruptcy is and how it can help you, you can request a free copy of the ultimate Missouri Bankruptcy book, written from my over 15 years of experience as a Missouri and Illinois Bankruptcy lawyer. Saving your home and protecting yourself from foreclosure rescue schemes may just be a click away.