How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
A new question is answered every 9 seconds

Ask a Bankruptcy Lawyer

FiveStarLaw
FiveStarLaw, Attorney
Category: General
Satisfied Customers: 3316
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Loan Modification Laws Related Questions

When an individual tries to make changes to or modify the terms and regulations of their current loan with his/her lender, it is often called a loan modification. In most situations, the lender may accept the loan modification request by the individual. However, in other situations, if the lender does not accept the loan modification request, then the individual may have to consider other options like refinancing with another lender. This can lead to uncertainty and questions about loan modification laws, especially while filing for bankruptcy. Below are some of the most commonly asked questions about loan modification laws.

Would Chapter 13 Bankruptcy Affect an Individual’s Payments if he/she Applied for Loan Modification?

If the Chapter 13 Bankruptcy petition is already approved, in most situations it would not affect the individual’s payments if he/she applied for loan modification.

What Can an Individual do if his/her Loan Modification Request to Lower his/her House Payments gets Denied?

If an individual gets a letter denying his/her loan modification request, the letter would also mention the reason for the denial. The individual, in such a situation, may call the lender and request to apply for a Home Affordable Modification Program (HAMP) modification. If the lender is a participant in this program, he/she may have to stop the foreclosure and process the HAMP modification. This would also mean that the lender may have to come up with a new payment plan. If the HAMP request also gets denied, the individual may send a letter disputing the foreclosure to the lender and to the foreclosing attorney. This letter would be considered a qualified written request and the lender may be forced to stop the foreclosure till the dispute is solved.

Can an Individual do a Loan Modification when in a Chapter 7 Bankruptcy?

As per loan modification rules, an individual may not be able to apply for a loan modification after filing for Chapter 7 Bankruptcy. The lender may not agree to the loan modification request because working towards the loan modification with the individual would be looked at as an action on the lenders behalf to collect the debt. As per the bankruptcy court, the lender may not attempt to collect the debt without the approval of the bankruptcy court when the bankruptcy case is pending. The individual may renegotiate the loan modification request with the lender after the bankruptcy is discharged.

Can an Individual Refuse to Accept a Loan Modification when he/she files for a Chapter 13 Bankruptcy?

According to loan modification laws, an individual may reject a loan modification in a chapter 13 bankruptcy and continue to repay the loan according to the original bankruptcy plan. However, if the individual is not able to repay the loan in the given time, the lender may take foreclosure action once the bankruptcy is discharged.

Requesting for a loan modification may not always be an easy process. Not having answers to the various questions regarding the loan modification laws and how they apply in the event of a bankruptcy can make it even more difficult for the individual. Understanding the different loan modification rules and the affects of bankruptcy on loan modification can help individuals who are planning to apply for a loan modification. It can also help individuals who already have received approval for a loan modification and are planning to file for bankruptcy. If you are not fully aware of the laws or how they apply in your situation, asking an Expert could get you the clarity needed to make informed decisions.

Ask a Bankruptcy Lawyer

FiveStarLaw
FiveStarLaw, Attorney
Category: General
Satisfied Customers: 3316
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
characters left:
Bankruptcy Lawyers are Online Now

How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Bankruptcy Lawyers are online & ready to help you now

FiveStarLaw
Attorney
Satisfied Customers: 3203
Bankruptcy Lawyer. Experienced.
Terry L.
Attorney
Satisfied Customers: 2204
Better Business Bur 15yrs bankruptcy experience. Chicago Bar
Phillips Esq.
Attorney-at-Law
Satisfied Customers: 950
B.A.; M.B.A.; J.D.

Recent Loan Modification Questions

  • I am in oklahoma and am being sued for garnishment for a past

    I am in oklahoma and am being sued for garnishment for a past bill... I have a court date set for Dec 2nd to provide paystubs, tax filings, bank statements. I will be out of the country on vacation that has been planned for over a year. I called the law office and they said they would not change it. I know that based upon my salary that they will get a judgement of the maximum OK garnishment of 25%. I was just planning on not going to the court date or providing any documents but I wanted to ask someone if I was cutting my own throat?
  • I am trying to find out whether there is any rule that limits

    I am trying to find out whether there is any rule that limits how far back they can request documents in a 2004 exam. They are asking for 10 years of documents. They are relevant to the creditor's claims, but it is going to be burdensome. That seems like my only defense. Is there a rule or statute that limits how far back they can go?
  • I have a credit card debt which was ruled over 10 years ago

    I have a credit card debt which was ruled over 10 years ago in the divorce court to be paid by my ex. I have not paid anything on this but they have taken money through garnishments. This past September has been 10 years they have just filed with the court another garnishment request. I live in Indiana which makes this a time-barred account. What steps do I take to stop this?
< Last | Next >
View More Bankruptcy Law Questions