If you are in over your head in debt and unable to pay your bills, bankruptcy may be able to help. Millions of Americans file for bankruptcy every year. Whether your debt is $1,000 or $1,000,000, there is likely a bankruptcy plan available to you.
What Is Foreclosure?
Foreclosure is the legal process in which a creditor takes your home to sell to repay debts that you owe. The process usually begins if you fall behind on your mortgage payments. The good news is that whether you file for Chapter 13 or Chapter 7 bankruptcy, the foreclosure process will always be temporarily paused. This means that you can keep your home as you determine repayment plans for your mortgage.
Filing for Chapter 13 bankruptcy is one of the best ways to completely stop a foreclosure and keep your house permanently. To qualify for Chapter 13 bankruptcy, you will need to be able to prove that you have sufficient funds to pay off at least a portion of your debts to creditors. An attorney can help you determine if Chapter 7 or Chapter 13 makes the most sense for your situation and whether you can stop a foreclosure on your home.
Should I Work With A Bankruptcy Attorney?
Facing a foreclosure is a scary moment for anyone. You do not have to go through this process alone. Working with a bankruptcy attorney will guarantee that you can temporarily keep your home as you evaluation your situation and your attorney determines what the best course of action for you is. Sometimes it means selling your home, sometimes you'll be able to keep your home--it all depends on your unique situation and what form of bankruptcy you file.
Fill out our Free Case Evaluation above to connect with a bankruptcy attorney who can help you with your foreclosure claim. The evaluation is always free and non obligational. Do not delay getting help anymore!