Castle Law Office Blog | Missouri & Illinois Bankruptcy Legal Blog

Can You Surrender a Home in a Chapter 13 in Missouri or Illinois?

Most information that you find about Chapter 13 bankruptcy in Missouri or Illinois explains to you how you can get protection from foreclosure, stop your repossession, and protect your other property. But what if your mortgage payment is too much for you to handle? Can you give up your home in a Chapter 13 bankruptcy?

You sure can and it may even be a good idea if you can no longer afford it. The important thing to remember about bankruptcy is that it can help you as much as you let it. Sometimes it would be better for your budget to just give up some of your property—but you have to take a realistic look at your financial future to truly understand what is important to keep and what is not.

A St Louis, Missouri or Belleville, Illinois bankruptcy attorney can certainly help you keep your home if that is what you choose to do but, always make sure you explore every option. It may be the option you never thought of before that ends up being the most beneficial to your family.

How can you find out about all your options? Start with research. Many bankruptcy attorneys will offer free consultations but the best ones will offer you free articles, bankruptcy faq, and even free publications before you step foot in an office. Request a free copy of my Missouri and Illinois bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know,”