QUESTION
Can I file bankruptcy to stop foreclosure?
Asked on Jul 29th, 2011 on Bankruptcy - Virginia
More details to this question:
If I file for bankruptcy to stop foreclosure and then not go through with it, will it still be on my record that Bankruptcy was filed?
11 ANSWERS
Personal Injury Attorney serving White Plains, NY
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Glen A. Kurtis, PC Attorney at Law
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Filing the bankruptcy wont permanently stop the foreclosure. The bank will have to suspend the foreclosure case until they get what is called a relief from the automatic stay that is issued when you filed your case. This is fairly standard. It does take some time to get the motion before the judge and an order etc. but the foreclosure case would be able to proceed after that.
Answered on Aug 02nd, 2011 at 8:14 AM
Debtor's Rights Attorney serving Atlanta, GA
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Theodore N. Stapleton, P.C.
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Yes you can file a bankruptcy case to stop the foreclosure.
Answered on Aug 01st, 2011 at 12:53 PM
You can delay a foreclosure, but unless you can make your house payments and make up the arrears in 3 to 5 years, you will lose the property. Filing a bankruptcy is a public record, as would be the dismissal of the case.
Answered on Aug 01st, 2011 at 7:40 AM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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When a bankruptcy is filed it creates an automatic stay. This will stop a foreclosure. Under chapter 13 you can do a payment plan for the arrears. If the case is later dismissed it nevertheless stays on your credit report for ten years.
Answered on Jul 31st, 2011 at 9:35 AM
Bankruptcy Attorney serving Hayward, CA
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Carballo Law Offices
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Yes
Answered on Jul 31st, 2011 at 8:10 AM
Yes, once a bankruptcy is filed, it is reported on your credit, no matter whether you get the benefit of a discharge or not.
Answered on Jul 31st, 2011 at 8:07 AM
Glen Edward Ashman
What you are proposing is a misuse of the bankruptcy code. No reputable attorney will assist you, and if a creditor or the US Trustee did determine that you filed in bad faith, you could face adverse consequences. And yes, the filing, successful or not, will be on your record.
Answered on Jul 31st, 2011 at 7:04 AM
Yes and yes. Filing bankruptcy will stop a foreclosure, at least temporarily. Once you have filed a bankruptcy, it will remain on the Bankruptcy Court Records and on your credit report, even if the case is dismissed because you do not file bankruptcy schedules, attend the first meeting of creditors, or take all other appropriate action needed to complete your bankruptcy case and receive your discharge.
Answered on Jul 31st, 2011 at 7:04 AM
judith runyon
Yes
Answered on Jul 30th, 2011 at 10:15 AM
Samuel Lee Tucker
Yes, filing will stop the foreclosure. Credit bureaus can report that you filed a bankruptcy for ten years afterward. Be careful trying to play around with this.
Answered on Jul 30th, 2011 at 9:33 AM
Bankruptcy Attorney serving Herndon, VA
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Maureen O'Malley
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Yes..A ch.7 only stalls foreclosure and a 13 lets you catch up the payments. A lot of people are doing what you suggest and the judges are imposing penalties for abusing the process.
Answered on Jul 30th, 2011 at 9:21 AM