Sorry that I have been away so long. Bankruptcy filings are rising. We are seeing it every day. November is normally a slow month for my office, and this year here I am at 3 p.m. on Saturday with several new clients begging to get in to see us. The mortgage foreclosure rates show just how hard Missouri is being hit. I am not seeing the same numbers from my Kansas clients. It could be that because my office is in Missouri that I just see more. It is hard to see people losing their homes just because they took out a loan that they can't afford to pay because the interest rates have sky rocketed.
We hear it every day. I even get calls from real estate agents begging us to help them. I do not have the power to make everything better. In bankruptcy, I can help clients get the arrearages current by paying them through the plan. (The arrearages are the amounts that the debtors are behind on their payments.) However, clients must be able to make the on-going mortgage payments. I don't have the power to change the interest rates in general.
Also, as I have said before, refinancing is hard to do that first year of bankruptcy. I want to point my clients towards some banks that have been working with my clients. Hats off to these business: Platte Valley Bank and Lawson Bank. My clients received wonderful treatment by these banks, and I want to say thanks to them. (I don't have an account or a relationship with either of them.)
My clients are done filling out their paperwork ... so I have to go.
Hello to all of my clients and readers.
Susan Bratcher
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