Will filing a Chapter
13 bankruptcy stop a foreclosure sale?
December 12, 2012, King and King Bankruptcy
Yes, it’s true. A
Chapter 13 bankruptcy will stop a foreclosure sale. Chapter 13 bankruptcy helps so many people
and families save their home, save their vehicle, get out of tax debt, stop
lawsuits and basically get their life back without losing the things that
mattered most to them.
To save your house from foreclosure, a Chapter 13 bankruptcy
is what you will want to file, not Chapter 7.
In many cases homeowners are first sent a certified letter called a
NOTICE OF DEFAULT. You generally have 30
days to bring your mortgage payments current and if you fail to do so you then
receive a NOTICE OF SALE. This is also
called a foreclosure sale date.
Home foreclosure can happen within a surprisingly short
period of time. Don’t wait until it is too late to file a Chapter 13
bankruptcy. Working with your mortgage
company on a loan modification process or debt workout plan is a great first
option, but also prepare to file a Chapter 13 bankruptcy to stop the
foreclosure sale as a backup plan. Meet with a bankruptcy attorney to learn
what you need to do to file a Chapter 13 bankruptcy at the last minute. Initial bankruptcy consultations are provided
free of charge and they are totally confidential.
Filing bankruptcy is never a first choice and nobody wants
to file bankruptcy if there are other options.
But, there are situations where filing bankruptcy is the very best
option. Chapter 13 bankruptcy
works! And, it works fast. Call King and King for a free bankruptcy
consultation today, 404-524-6400
