QUESTION
How do I file bankruptcy to stop foreclosure?
Asked on Dec 28th, 2012 on Bankruptcy - Colorado
More details to this question:
I'm filing bankruptcy to keep my house. What chapter do I need to file and is there anything specific I need to do to make sure the bank doesn't foreclose on my house?
16 ANSWERS
Bankruptcy Attorney serving Livonia, MI
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Charles J. Schneider, P.C.
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Specifically you need to hire an attorney and make sure your case is filed prior to the foreclosure sale or else it may be too late.
Answered on Jan 04th, 2013 at 5:15 AM
Bankruptcy doesn't keep you house, it only delays the foreclosure for one or two month.
Answered on Jan 02nd, 2013 at 2:37 PM
Daniel James Wilson
Hire a lawyer. What you are trying to do can be done, but it is very technical. You can stop foreclosure and make up arrears through a Chapter 13.
Answered on Jan 02nd, 2013 at 2:30 PM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy.
Answered on Jan 02nd, 2013 at 12:23 PM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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A chapter 13 can stop a foreclosure and, if things line up just right, can give you 60 months to catch up on all the arrearage while resuming and continuing regular payments. A number of things have to be demonstrated.
Answered on Dec 29th, 2012 at 7:29 PM
Commercial Bankruptcy Attorney serving Davie, FL
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Law Office of Jeffrey Solomon
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A chapter 13 payment plan bankruptcy can permit you to have a plan to save your home. However, there are so many details to review, you need to consult with an attorney.
Answered on Dec 29th, 2012 at 7:29 PM
Glen Edward Ashman
Yes, you need to get a lawyer. Filing without a lawyer is almost a guarantee of losing your home and the many ways you could have kept it. Both 7s and 13s stop foreclosures (usually), but pick the wrong one, and that is a decision that requires legal training, and you can likely kiss your home goodbye.
Answered on Dec 29th, 2012 at 7:28 PM
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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You need to get an attorney. Chapter 13 bankruptcies are very complicated whenever you have the most skilled attorney. Alone, it is very difficult to survive...I read a stat last year that said 95% of chapter 13's filed without an attorney fail.
Answered on Dec 29th, 2012 at 7:28 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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In NJ...EITHER CHAPTER WILL temporarily stop it, but only chapter 13 allows you the ability to repay the delinquent amount owed. IN NJ we also have a loan modification process through the bankruptcy court.
Answered on Dec 29th, 2012 at 7:27 PM
Insurance Litigation Attorney serving St. Petersburg, FL
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Gallagher & Associates Law Firm, P.A.
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This is not something you should do pro se. You need an attorney to advise what is appropriate under the facts of your case. Would you consider performing surgery on yourself?
Answered on Dec 29th, 2012 at 7:27 PM
Bankruptcy Attorney serving Buford, GA
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Kenneth A. Parker, PC
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If your intent is to keep the house, then you will need to file a Chapter 13 Bankruptcy. What happens in a Chapter 13 is your mortgage arrearages get put into the Chapter 13 repayment plan and you would start making your regular mortgage payments the month after you file. You need to ask yourself 2 questions regarding the house: 1. Are you upside down on the house (do you owe more than what the house is worth). 2. If you file a Chapter 13 and the arrearage payments are put into the Chapter 13 plan, can you afford the regular Mortgage payments. If the answer to these questions are Yes and NO, then your best option may be a Chapter 7. However, if the answers are NO and Yes, then a Chapter 13 may be the best option. Call a Bankruptcy attorney and discuss your options before the foreclosure date gets too close.
Answered on Dec 29th, 2012 at 7:27 PM
The traditional answer to your question is Chapter 13, which allows you to take up to 5 years to make payments to bring your past due mortgage payments current. However, not everyone can qualify to make the kinds of payments required in a Chapter 13 and there may be other options available. There is no way to know until you consult with a local bankruptcy attorney who reviews your unique circumstances.
Answered on Dec 29th, 2012 at 7:26 PM
Litigation Attorney serving San Antonio, TX
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Graves Law Firm
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Presumably you owe arrearages and that's why you want to file to save your house, so you're a shoo-in for a Chapter 13. You really should see a lawyer. Good luck.
Answered on Dec 29th, 2012 at 7:25 PM
You would file a Chapter 13- and the case must be filed before the Sheriff's sale date. The Chapter 13 case would pay ongoing mortgage payments in the Plan, arrearages to be cured in the Plan as well.
Answered on Dec 28th, 2012 at 4:30 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You will need to consult with a bankruptcy attorney to find out which chapter you are allowed to file. It could be ruled that you are abusing the system if you are filing the bankruptcy just to stop a foreclosure for a brief time.
Answered on Dec 28th, 2012 at 4:29 PM
Bankruptcy Attorney serving Denver, CO
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Colorado Bankruptcy Law Group, LLC
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No matter what chapter bankruptcy you file, the court will issue a protective order the moment your attorney files your case. The protective order puts in place an automatic stay that prohibits your creditors from taking any action, including proceeding with your foreclosure. However, depending on your circumstances, bankruptcy may only delay foreclosure proceedings.
Answered on Dec 28th, 2012 at 4:29 PM