subject: Will A Foreclosure In Illinois Be Different From A Foreclosure In Missouri? [print this page] Though they are only a river apart, Missouri and Illinois have completely different sets of laws. Foreclosure, while it doesn't vary wildly from state to state, is slightly different in Illinois than in Missouri. It is important for any St. Louis, Missouri bankruptcy attorney to understand that, if he or she wants to provide protection from foreclosure for an Illinois family, he or she must know the processes in both states.
For foreclosure in Illinois, the lender must actually go through the court to get a judgment against you. Your lender has to go to court to actually go through with any foreclosure proceedings. In Missouri, a homeowner can get all the way through a foreclosure, from notice to auction, in 21 days. Because Illinois has judicial foreclosures, the process does take slightly more time. So, it is easier to go through an Illinois foreclosure, right?
Well, not necessarily. Notably, going through an Illinois foreclosure can cause more confusion and panic because you must appear in court. It is hard to find the best protection from foreclosure when your brain is cluttered with confusion and worry. Even though you have more time, finding a solution quickly should still be a priority. One thing that is the same for Illinois and Missouri foreclosure is the kind of help that is available.
A foreclosure can be stopped and your debt can be handled by a Chapter 13 bankruptcy in Illinois. What do I mean by that? In addition to providing protection from foreclosure, Missouri Chapter 13 bankruptcy stops wage garnishments, repossession, harassing creditor calls, and reorganizes your debt into a payment plan that you can handle. The best part is that your creditors can't do anything about it. Bankruptcy is a very powerful federal law. Your creditors must accept less money on a monthly basis over a longer amount of time. It also gives you some much needed breathing room by stopping your creditors from taking any more action against you. In the mean time, you can keep food on the table for your family and protect them from losing their home.
Keep in mind that, if you are looking for a St Louis law firm to handle your Illinois bankruptcy, the attorney needs to be aware of the different laws in both states regarding foreclosure and bankruptcy. Make sure any St. Louis Missouri bankruptcy attorney has satisfied clients on both sides of the river and possibly even a convenient location in Illinois.
