If you are facing foreclosure, the first thing we at King & King want you to know is that you’re not alone. Bankruptcy can protect your home from foreclosure and we can help.
Filing bankruptcy will put a stop to a foreclosure. When you file for bankruptcy, there is an automatic stay that prevents the foreclosure sale from moving forward. This will give you time to pursue your bankruptcy options and to avoid foreclosure.
If you have fallen behind on your mortgage payments, you may feel like you’re stuck between two options: allowing the lender to foreclose on your home or filing for personal bankruptcy.
Chapter 13 bankruptcy puts an immediate stop to the foreclosure and gives you time to catch up on back payments. You will work with the court and your attorney to create a payment plan that works for you and your budget. Typically, you’d have between three and five years to pay the back payments.
To learn which option may be best for you, you need to work with a bankruptcy attorney who’s been through this situation many times before. The professionals at King & King bankruptcy in Atlanta are ready to offer a free consultation. Call us for help today at 404-524-6400.