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New Orleans Bankruptcy Lawyer Case Study: Surrendering an Underwater House with Chapter 7 in Kenner, Louisiana

Husband and wife in mid-50s living in Kenner, Louisiana came in to look at bankruptcy related options in connection with the pending foreclosure/Sheriff sale scheduled to take place within approximately one week. We initially looked at efforts to save the home through a chapter 13 bankruptcy. It's possible to restructure the mortgage arrearages through a chapter 13 plan payment and spread the arrearage out over a 60 month repayment plan.

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