Bankruptcy Attorney
Bankruptcy Lawyer Attorney Profiles Common Questions Bankruptcy Evaluation Office Locations

No Money Down on Chapter 13 Cases
For Qualified Wage Earners!
Chapter 7 Bankruptcy from $850

Information Center
Asset Protection
Bankruptcy Overview
Business Bankruptcy
Chapter 13
Chapter 11
Chapter 7
Creditor Harassment & Abuse
Debt Relief Options
Eliminating 2nd Mortgages
Fighting Foreclosure
Means Test
Rebuild Credit
Resources
Taxes & Bankruptcy
Bankruptcy Alternatives
Bankruptcy Exemptions
Bankruptcy Myths
Bankruptcy Process
Bankruptcy Time Line
Benefits of Bankruptcy
Chapter 7 vs. Chapter 13
Filing for Bankruptcy
Is Bankruptcy Right for Me?
Life After Bankruptcy
Why Hire a Bankruptcy Attorney
Will I Lose Anything?
Read our blog

Exploring Alternatives to Foreclosure

If you are searching for alternatives to foreclosure there are options that allow you to give up ownership of your home without affecting your credit score as much as foreclosure would.

You can opt to see your house if there is enough equity in the property. It is even possible to receive more money for the sale of the home than the remaining cost of the mortgage loan. If this isn't an option, than assumption allows you to sign the property over to someone else. That person would then be responsible for making payments instead of you.

A pre-foreclosure sale may get you some money for your home but it will probably be less than the amount owed on the mortgage loan. Finally, you could take the option of "deed in lieu of foreclosure" which lets you return the property to the lender without causing any further damage to your credit.

Have questions about foreclosure or bankruptcy in Illinois?  Contact our legal team to get answers from a Chicago bankruptcy lawyer.

Free Bankruptcy Evaluation
Eliminate Debt & Bills
123 W. Madison Street, Suite 205; Chicago, IL 60602
Attorney Web Design
The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

Main Office: 123 W. Madison Street, Suite 205 Chicago, IL 60602
Phone Number: (312) 427-3100