If you have been served with papers for a foreclosure action, you may have a good remedy through Chapter 13 Bankruptcy. If a debtor files for Chapter 13 Bankruptcy prior to a foreclosure sale, the debtor can propose to pay the amount owed through the Chapter 13 plan. Best of all, the lender is not allowed to sell the property during the repayment period.
Many individuals facing foreclosure are able to save their residence through the Chapter 13 process. In addition to foreclosure relief, debtors can also obtain debt relief from their other debt, such as credit cards, loans, and medical debt.
If you would like to learn how bankruptcy may help you keep your home, contact us for a free consultation.