Your Personal Bankruptcy Attorney

Chapter 13 Bankruptcy

The most effective personal bankruptcy attorneys in Tucson…. Copperstone P.C.

Chapter 13 Bankruptcy

When you file a Chapter 13 bankruptcy, there are multiple options: We can erase your unsecured debts, including medical bills, credit-card debts and personal loans, or you can choose to repay them over a 3- to 5-year period. And, if there’s a second mortgage on your home, we may be able to eliminate it.

Likewise, we may be able to reduce the amount of money you owe on a motor vehicle, or reduce your interest rates, or help you pay taxes without facing any late fees or fines. And, we can help you eliminate debts following a divorce or other personal troubles.

Through a Chapter 13 bankruptcy, we can help you to obtain a “super discharge” from the bankruptcy judge that will free you from your burden of debt. If you’d like a fresh start in your credit life, just contact us.

Eliminating your second mortgage

During the last housing boom, many homeowners in Tucson obtained second mortgages on their homes, often in the form of a “home equity line of credit” (or HELOC). After the economy went into a slump, many people throughout Pima County were left burdened by more debt than their homes are worth.

Through the power of a Chapter 13 bankruptcy filing, we may be able to help you recover your home equity by “stripping” or eliminating your second mortgages and HELOCs. We’re able to accomplish this by convincing the judge to reclassify your home-equity debt as an unsecured loan, and then its discharged and eliminated along with your credit-card bills and other debts.

This strategy is usually very effective, although it doesn’t always work. In order to strip your second mortgage, your home must be “underwater” with regard to your first mortgage: In other words, your home must be worth less than the amount you owe on the first mortgage by itself. And, you’ll need to complete the court-approved 3- to 5-year bankruptcy plan.

In most cases we can eliminate that second mortgage and help save your home.

Feeling weighted down by a HELOC or second mortgage? We can help!