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Can You Remove a Bankruptcy from Your Credit Report?


While it’s true that bankruptcy can help you eliminate debt and take control of your finances, it can hurt your credit score. There is no way to remove bankruptcy from your credit report. Bankruptcy will remain on your credit report for a period of seven to 10 years, after which point it will disappear on its own. While you can’t make take bankruptcy off your credit report any sooner, you can work hard to start rebuilding your credit and reestablishing your finances. If you are under mountains of debt, contact the bankruptcy attorneys at Low & Low Bankruptcy Lawyers in Hackensack to discuss your bankruptcy options. We also have offices in Elizabeth, Jersey City, and West New York to assist you throughout NJ. Visit our website to learn more about our bankruptcy law firm, or call us at (201) 559-9999 to schedule your initial consultation.


Your Options for Avoiding Foreclosure


When you take on a 15- or 30-year mortgage, there’s no telling what your financial situation will be like in the future. Unfortunately, this can bring up some uncertainties throughout the life of your mortgage, the most frightening of which can be losing your home because you can no longer afford the monthly payments. The good news is that there are options available to you to help you avoid foreclosure. One option is a loan modification, in which an attorney negotiates new loan terms so that it is reinstated with more affordable monthly payments. You may also qualify for a short forbearance if you only need a few months to get your finances on track. If you’ve fallen behind on your mortgage payments and are frustrated, anxious, or depressed due to financial debt, Low & Low Bankruptcy Lawyers can help. Our law firm specializes in bankruptcy and loan modification in Hackensack. Visit our website to learn more about our services or call us at (201) 559-9999 to schedule your initial consultation with one of our bankruptcy attorneys or loan modification professionals.


Bankruptcy Help


Low Bankruptcy from Stanley Low on Vimeo. If you are in financial trouble and fear you are facing bankruptcy, call Low & Low Bankruptcy Lawyers to help you through this difficult process. Bankruptcy is not the end, it is a second chance. Visit our website for bankruptcy tips to help you during this time and call us today at (201) 343-4040 to schedule a free consultation! We are here to help you!


Tips for Purchasing a House After Bankruptcy


There is a common misconception that filing for bankruptcy permanently ruins your credit and your ability to take out future loans. As your bankruptcy attorney in Elizabeth can explain, you can still secure a mortgage loan following your discharge. This means you can become a homeowner once again, so long as you have a steady income from your job. In this video, a bankruptcy attorney explains how bankruptcy discharge affects the mortgage loan process. As he explains, lenders will now look at you as a first time homebuyer. This means that they will consider the stability of your present income, your amount of existing debt, and the amount of the potential loan compared to your monthly income. Call (201) 559-9999 to schedule a consultation with the bankruptcy attorneys of Low & Low Bankruptcy Lawyers. We have more than 40 years of combined New Jersey legal experience and offices in Hackensack, Elizabeth, and Jersey City.


Can You File a Loan Modification While in Bankruptcy?


If you’ve filed for Chapter 13 bankruptcy, you will be repaying a portion of your debts over the next three to five years through your bankruptcy trustee. This type of bankruptcy is the one type in which you can eliminate a second mortgage. You can also take this opportunity for loan modification in Elizabeth to secure a very low interest rate. In agreeing to loan modification, you will need to satisfy your lender’s conditions. Your lender will likely require you to obtain court approval for the loan modification and you will probably need to file a motion and get a judicial order approving the modification agreement. While this step may be unnecessary in some places, your lenders may want assurance that the modification doesn’t violate the protections you obtain through bankruptcy. Once you secure loan modification, you will need to modify your Chapter 13 bankruptcy plan. As you will likely have more disposable income after modification, you will need to use that additional money to pay back your creditors. For more information on filing for bankruptcy or loan modification in Hackensack, contact Low & Low Bankruptcy Lawyers. You can reach our bankruptcy attorneys by dialing (201) 559-9999.


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