New York City Loan Modifications are not stopping Chapter 7 Bankruptcies in New York

Look, lets face it.  Getting a loan modification in New York is about as likely as walking home to find that the Extreme Makeover show has arrived, and they’re going to help you out.  I know that many people are pushing Loan Modifications in New York.  I know there are companies in New York to “assist” you in your loan modification.  However the statistics are staggering.  People are overwhelming not finding any success with Loan Modifications.  If that is what is stopping you from filing a Chapter 7 Bankruptcy case in Brooklyn or a Chapter 7 Bankruptcy case in New York City, I would counsel you to re-asses your situation.  What I mean is:  If you are drowning because you can’t pay your mortgage and you think that a Loan Modification in New York will help you, the chances are it likely wont.  Specifically for individuals in New York City who have too much credit card debt, or who have no savings.  My suggestion is if you are considering filing for Bankruptcy in New York, and a Loan Modification is what is stopping you…go see a Chapter 7 Bankruptcy Attorney in New York as soon as you can to discuss your options.

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