Success Stories | How Bankruptcy Made a Positive Impact on Lives

Missouri Foreclosures and Repossessions

Sam's Story
Robert & Jenny's Story
Jack's Story
Cassie's Story
Scott & Pam's Story
Yvette's Story

Sam’s Problem:
Sam had two mortgages on his house, and it was becoming harder and harder to be able to afford them each month.

TBC’s Solution:
Sam came to his free consultation at TBC to learn his options for dealing with his debt. From documents Sam provided, his attorney determined that Sam’s house now appraised for less than the balance owed on the first mortgage. The attorney was able to file a Chapter 13 for Sam, and eliminate Sam’s $28,000.00 second mortgage entirely. The rest of Sam’s debts are being paid off through monthly Chapter 13 plan payments that Sam can afford.

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Robert & Jenny’s 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.

TBC’s Solution:
Their TBC attorney 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.

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Jack’s Problem:
Jack is disabled and was having difficulty affording his mortgage payment. His bank began the foreclosure process on his home. Jack had consulted with a few other bankruptcy attorneys before scheduling his free consultation with TBC, but stated that he chose TBC based on our personal service, professionalism, and competence.

TBC’s Solution:
Jack’s TBC attorney filed a Chapter 13 for him, immediately stopping the foreclosure sale. The attorney requested, and was granted, a Court Order allowing Jack and his mortgage company to negotiate a loan modification to significantly reduce Jack’s monthly mortgage payment. He also put Jack in contact with a HUD-certified, not-for-profit housing counselor to assist him with these negotiations. Finally, as attending a meeting at Court would have been a hardship due to Jack’s disability, TBC was able to get his appearance at the meeting waived, so that he did not have to go.

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Cassie’s Problem:
Cassie was a Realtor whose income had been hard hit by the housing crisis. She had been trying to work out a loan modification agreement with her mortgage company for several months, until the mortgage company suddenly notified her that they had set a date for a foreclosure sale.

TBC’s Solution:
Cassie’s TBC attorney filed a Chapter 13 for her to stop the foreclosure sale, and obtained permission from the Court to negotiate a mortgage loan modification. For just $350 up front, and an affordable payment of $275 per month, Cassie will be able to catch up on her house payments and eliminate $13,000 in medical bills and $55,000 of other debt within 4 years. She will also be able to negotiate a lower monthly mortgage payment.

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Scott & Pam’s Problem:
Scott & Pam had lost their home to foreclosure several months earlier. They were still struggling to make ends meet, with three small children, two car payments, and credit card and other debts totaling $30,000.00. They called TBC when their former mortgage company told them that they still owed $40,000.00 on the foreclosed house – the difference between the value of the house and the amount they had owed on the mortgage.

TBC’s Solution:
Scott & Pam’s TBC attorney filed a Chapter 7 for them, to eliminate the $40,000 deficiency on the foreclosed house, as well as the additional $30,000 in debt. Now Scott & Pam can afford their two vehicle payments, as well as the rest of their family’s monthly expenses, and their ongoing car payments are rebuilding their credit.

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Yvette’s Problem:
Yvette lost her job and soon fell behind on her mortgage payments. The mortgage company was threatening to foreclose on her house.

TBC’s Solution:
Yvette filed a Chapter 13 bankruptcy with TBC to stop the foreclosure. She has relatives who will be moving in and renting from her, so that she can afford her Chapter 13 payments to catch up on and keep her house.

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Don't wait until till it may be too late to seek protection under the bankruptcy law. Schedule a FREE Consultation with one of our bankruptcy attorneys and learn how the bankruptcy law applies to your specific situation. Call TBC today at 314-961-9822

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