[SANDY, 02/27/2018] — Millions of Americans have been falling behind on their mortgage payments. According to a Q1 2017 Home Equity and Underwater Report from Attom Data Solutions, the number of U.S. properties that are seriously underwater totals 5.5 million. Utah Bankruptcy Professionals, PC assists clients in filing Chapter 13 Bankruptcy.

Families unable to keep up with the payments may face foreclosure, especially if banks and other lenders are incapable or unwilling to provide solutions. When lenders, however, refuse to approve solutions like principal reductions or loan modifications, borrowers can resort to bankruptcy as their final option.

What Happens When Homeowners File Bankruptcy

According to an article from Huffington Post, when a homeowner chooses to file bankruptcy to save their home, creditors cannot go through with foreclosure without the expressed permission of the bankruptcy court. Moreover, filing bankruptcy allows homeowners to withstand the next foreclosure sale.

Bankruptcy, in the hands of residential property owners, is a powerful tool that they can leverage against lenders who repetitively refuse loan modifications. Additionally, they use bankruptcy to prevent lenders from offering negative modifications, which worsens the predicaments of borrowers with principal enlargements or payment increases.

Helping Utah Homeowners File Bankruptcy Claims

Homeowners in Utah who need assistance in filing a bankruptcy claim can turn to Utah Bankruptcy Professionals. They can file Chapter 13 bankruptcy to stop home foreclosure and allow them to catch up on delinquent home equity loans and mortgage payments against their primary residence.

Utah Bankruptcy Professionals has knowledgeable and supportive staff that makes bankruptcy filing easy for clients. The law firm’s team will guide clients through the entire bankruptcy process, and make sure that they obtain a favorable outcome after filing.

About Utah Bankruptcy Professionals, PC

Utah Bankruptcy Professionals, PC is one of the most trusted law firms in the state. The law firm has assisted thousands of individuals in obtaining the financial relief they need to recover their finances and rebuild their lives. Jody Lamb Howe, the owner of the law firm, takes pride in delivering high-quality work and legal representation.

Visit http://www.utahbankruptcy.com for further details.