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October 2011 Archives

Debtors Not Seeking The Relief They Need

Reported in the USA TODAY, dated October 13, 2011, more Americans are piling on debt and fewer are seeking counseling or bankruptcy in order to get their finances back in order. Poverty has increased, unemployment hovers around 9% and consumers have accumulated close to $19. Billion in credit card debt during the second quarter. That is up 66% from the same quarter in 2010!

Yes you can get rid of your second mortgage in bankruptcy!!

If you are having problems making your second mortgage payment or home equity line of credit you may want to meet with one of our lawyers to see if we can get rid of that secondary mortgage. When you file a chapter 13 bankruptcy a bankruptcy Judge may get rid of a second mortgage or home equity loan if that mortgage is wholly unsecured. Those secondary mortgages are wholly unsecured if your home is valued at an amount equal to or less than the amount you owe on your first mortgage. As an example. You have a home worth $150,000.00 with a 1st mortgage of $155,000.00 and a 2nd mortgage of $30,000.00. In this case the 2nd mortgage company would get nothing in the event your home sold for $150,000.00 or less. For that reason a Chapter 13 judge would order the 2nd mortgage void since it is entirely or wholly unsecured.

State residents rank among most fiscally responsible

When it comes to creditworthiness, it's hard to top the consumers of Wisconsin.

Contact Our Milwaukee Law Firm

Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

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Milwaukee Office
735 West Wisconsin Avenue
Suite 600
Milwaukee, WI 53233

Phone: 414-326-9231
Fax: 414-277-1303
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Kenosha Office
6123 Green Bay Road
Suite 210
Kenosha, WI 53142

Phone: 262-326-1669
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Brookfield Office
200 S. Executive Drive
Suite 101
Brookfield, WI 53005

Phone: 262-261-0665
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Madison Office
2810 Crossroads Drive
Suite 4001
Madison, WI 53718

Phone: 608-260-7133
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