What Makes Us Different?

If you have missed one or more mortgage payments on your home or commercial property in Chicago or any of the collar counties, you may face foreclosure. The line of lawyers who will help you initiate bankruptcy proceedings is lengthy. Too often, however, the so-called "fresh start" they endorse will result in you losing your property.

At Kaplan and Associates, Ltd., we strive to help clients keep their home or commercial real estate. Our lawyers treat bankruptcy as a last resort, advising only as necessary, seeking instead to develop alternative solutions that minimize the impact on clients' lives.

Insights That Comes With Experience

Led by attorney Arnold Kaplan, who has 30 years of experience across a broad array of foreclosure, real estate and bankruptcy law, our team is thoroughly knowledgeable about loan modifications and other effective alternatives to foreclosure in Illinois.

Many attorneys treat bankruptcy as a foregone conclusion, often because they are relatively new to bankruptcy law and it is the solution they are most familiar with. As the saying goes, "If the only tool one has is a hammer, it is tempting to treat everything as if it were a nail."

At Kaplan and Associates, Ltd., we have a whole toolbox of solutions. Our firm has counseled individuals on foreclosure defense, bankruptcy, collections' litigation, loan modifications and related issues for three decades. We may be able to help you reach agreement with a lender that will make your monthly mortgage more manageable.

Smart Alternatives To Bankruptcy

If careful analysis of your situation reveals that staying in your home is not possible, we may still work to avoid a bankruptcy foreclosure in order to develop a more practical and dignified exit. Options include:

  • A short sale that allows you to sell your home for less than you owe the bank
  • A deed in lieu of foreclosure, which deeds the property back to the bank while averting a foreclosure
  • A cash-for-keys agreement in which the lender pays the tenant a predetermined amount to leave the property by a certain date (and usually in an agreed-upon condition)
  • A consent foreclosure that allows a homeowner to consent to the court judgment of the foreclosure without having to go through the formal foreclosure proceeding and helps avoid the possibility of a deficiency judgment

Your Solution Starts With A Meeting

Procrastination is your worst enemy. Facing financial struggles before they spiral out of control is the best way to maximize your options. Call, email us or use our online contact form to schedule a free consultation. We will answer your questions and recommend the most effective course of action.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.