Belleville 618.236.7000
Granite City 618.656.7941

Video Transcript

When you fall behind on your house payments, your mortgage company can refuse to accept any further payments from you unless you are paying them in full. This may make it impossible for you to catch up, and keep your house, on your own.

A Chapter 13 compels the creditor to accept your current monthly mortgage payments, and lets you pay back the amount you’re behind over the course of 3-5 years. Once a bankruptcy is filed, by law all of your creditors have to stop trying to collect on your debts. That means they can’t continue to foreclose on your house. Often a bankruptcy will reduce or eliminate your other bills, so that your mortgage payment becomes affordable again. In some limited situations, bankruptcy can even eliminate second mortgages.

It’s important to be aware that mortgage companies can be working on foreclosing on your house, at the same time they’re telling you on the phone that they are willing to work with you. We have seen many clients who thought that they were working out a loan modification, only to receive a call telling them that they don’t qualify for the modification after all, and their house was going to be sold in just a couple of days.

If you’ve fallen behind on your house payments and want to avoid foreclosure, just give TBC a call. We’ll be glad to meet with you for free to discuss your situation and your options.

Memberships & Associations


Belleville Location

The Bankruptcy Center
5312 West Main Street
Belleville, IL 62226
Tel: 618.236.7000

Granite City Location

The Bankruptcy Center
2021 Johnson Road, Suite 1
Granite City, IL 62040
Tel: 618.656.7941


The Law Office of Ronald A. Buch is a debt relief agency, helping people file for bankruptcy relief under the Bankruptcy Code.