Bankruptcy Alternative
Avoiding Foreclosure | Alternatives to Bankruptcy
Retain a Houston Lawyer Who Will Explore All of Your Options
Many law firms try to ''sell'' every client on their most expensive, most complex product: bankruptcy.
In certain situations, a Chapter 7 or Chapter 13 bankruptcy is the only viable option, but in many cases, other, less-expensive options are available. Shouldn’t you and your lawyer explore and understand all of your options before you act?
Located in Houston and with more than 14 satellite offices, the Sughrue Law Firm*, through owner and attorney Jason Sughrue, will listen to your situation and discuss your options, both inside and outside of bankruptcy. You have a lot invested in your home; make an informed decision regarding how you want to proceed.
For additional information about us and the exceptional service we provide, please visit our Benefits of Retaining Our Law Firm page.
Bankruptcy Alternatives for a Threatened Home Foreclosure in Texas
Forbearance
A ''forbearance'' offer is a way to work out a payment plan directly with your mortgage company. A Chapter 13 bankruptcy forces your mortgage company to accept a payment plan, but in many cases, we can agree to a plan with your mortgage company and prevent a foreclosure without filing for bankruptcy.
Understand that your mortgage company would rather not foreclose on your home; their goal is to get paid. But even more than that, they don’t want to get dragged into bankruptcy court. A smart lawyer will use this knowledge to your advantage.
As your attorney, Jason Sughrue will let your mortgage company know that if it does not work something out with you, then we will advise you to use the bankruptcy court to protect your home. Therefore, we are much more likely to get the mortgage company to work out a forbearance that is affordable.
So why don’t other firms talk to you about forbearance? They are concerned only with making money, and a forbearance costs just a few hundred dollars to work out.
Why does Houston lawyer Jason Sughrue work so hard for you to make a forbearance happen?
Our philosophy is to build our practice through referrals. In order to accomplish that goal, we strive to provide you with the best possible service and representation. That means doing what is best for you. Mr. Sughrue treats every client as if he were the client.
We count on you being satisfied with your decision to retain our services and feeling comfortable referring friends and family to us.
It might turn out that bankruptcy is your only option, but don’t you owe it to yourself to seek a forbearance or other less-expensive bankruptcy alternatives first?
Temporary Restraining Order
If you don’t want your home anymore or realize that you no longer can afford your home, many attorneys will file bankruptcy so you have time to sell your house.
However, at the Sughrue Law Firm, attorney Jason Sughrue believes that filing a bankruptcy petition is the last thing you should do. What you need is a temporary restraining order, or TRO.
To obtain a TRO, we need to demonstrate only that the sale of your home is imminent and that if the foreclosure is not stopped, irreparable harm will result (e.g., you will lose a lot of money).
A TRO is more affordable than bankruptcy and does not in any way affect your credit.
Life Line
Currently, the president of the U.S. is encouraging mortgage companies to consider giving debtors 30 days to recover and work out a plan to become current with their mortgage.
Life Line should be the first thing we discuss with you if you are dealing with a foreclosure. They are inexpensive and very effective at buying time to plan.
Refinancing
In some circumstances, refinancing is available to a client facing foreclosure. This should be at least explored before it is dismissed.
Contact an Experienced Houston Home Foreclosure Lawyer
If you are concerned about having your home foreclosed upon or if you have received a notice of foreclosure from your mortgage company in the Houston area, bankruptcy might be your best alternative, but you owe it to yourself to explore and understand your options. We can help.
To discuss your options and alternatives to bankruptcy, please schedule a free, confidential consultation with experienced attorney Jason Sughrue by calling (713) 518-1833 or by contacting us.
Because You Deserve Respect and the Ability to Make Informed Decisions...
The Sughrue Law Firm
Houston Consumer Bankruptcy Lawyer
Texas Bankruptcy-Alternative and Foreclosure Attorney
*The Sughrue Law Firm has been designated as a debt-relief agency by Congress under the United States Code. We proudly help people file for bankruptcy relief under the Bankruptcy Code.
723 Main St. Ste 801
Houston, TX 77002
ph: 713-518-1833
fax: 713-228-0201
