Can Bankruptcy stop foreclosure?

If your home is presently in foreclosure, a Chapter 13 bankruptcy filing will stop the foreclosure any time prior to the sale, and allow you to repay your mortgage arrears through your Chapter 13 bankruptcy. You will still be obligated to make all future mortgage payments directly to the mortgage company, but they may not foreclose to collect any outstanding mortgage payments

If you are facing a lawsuit, repossession, or wage garnishment a Chapter 13 bankruptcy can rearrange your financial affairs and allow you to get back on your financial feet.

Filing for Chapter 7 or Chapter 13 bankruptcy protection sometimes paves the best path for debtors to retain their homes and deal with their creditors. In most cases bankruptcy comes as a last resort. While you may file bankruptcy on your own, you will almost always be better served to hire a qualified, experienced attorney.

If bankruptcy is the only choice for you, Financial Choice Network recommends you seek a bankruptcy professional to see if you would qualify and to determine which type of bankruptcy would be best for you. For a free consultation call, or fill out the form and get back on the road to financial freedom!