The Phillips Law Offices works to help consumers work out debts with creditors to avoid court judgments and bankruptcies. Not every consumer needs to file a bankruptcy case to deal with consumer debt, and our lawyers are there for the client every step of the way, whether it be through debt settlements, credit card workouts, or even loan negotiations.
Modifications are nothing new in the legal practice. A loan modification is simply the modification of the original terms of a contract. This practice is used in both Chapter 13 cases as well as Chapter 11 cases. In both Chapter 13 and Chapter 11 cases, modifications are used for mortgage agreements; however, modifications can be used for lease agreements and other types of contracts.