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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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Hello again, I seem to have messed up my former transaction!

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Hello again,
I seem to have messed up my former transaction! Do you still have my question in your system?

Best regards
Your question does not appear in the listings under your name. Please reply with question, and I'll do my best to answer it.
Customer: replied 7 years ago.
Sorry, I guess my original questions got erased.

I am currently in Bankruptcy,chapter 13. I am very grateful for the debts that were removed, but I am getting deeper into debt as the months go by. My income is decreasing monthly and I have been borrowing money to keep up. I own a Condo that I owe $110,000 on and an escrow loan of $70,000. My place would not sell for even close to that on the current market($180,000) I have been told that I might be able to element the escrow(2nd mort.)? If this is true I think I would be able to survive. My pymts to the escrow are $450 mo.

My current lawyer charged me $3100 for her services and it has been suggested that that was a bit steep, also why did she not try to remove the escrow loan? Is it alright to get a different lawyer? I don't want to make anyone Mad at me and destroy any chances I have of trying to keep my Condo!! Would this new attempt go against me in court? I am in near panic mode now. Sorry about the pymt. delay I have,had $45 in my acct. (all) and just wanted to make sure the charge would go through,that is the Gods truth. Looking forward to your advice!

Thank you
Las Vegas, NV

Hi there Mickey.
Actually, the fees sound reasonable, In Illinois, fees are approved by the court, and they have set $3500 as reasonable for the entire case.

Down to the issue. At the time of filing, if the 2nd mortgage/equity line is wholly unsecured, your attorney can bring a motion to strip off the lien. It will then be paid at your unsecured rate.   IF there is just 1 dollar for the equity to attach to though, the loan cannot be stripped off.

Since your income has dropped, you can bring a motion to modify the plan. Depending on the claims that have been filed, you may be able to lower your payment, lower the percentage repayment to the unsecured, or stretch the case to 60 months if it was shorter. Your attorney can review the facts and current situation, to see if you would be eligible to modify.   You could be eligible to convert to chapter 7 as well, but the case facts will determine eligibility.

You can terminate your lawyer, and hire another if you choose, you are not forced to use them.
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