EXPERIENCED ORLANDO AND CENTRAL FLORIDA BANKRUPTCY AND FORECLOSURE REALATED BANKRUPTCY ISSUES LEGAL REPRESENTATION
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If you have been served a notice of foreclosure on your home by your lender, this may make you feel helpless and uncertain about how you can save your home.
Many people that have a home that is involved in a pending foreclosure are also struggling to pay other bills and debt as well.
There are things that you may be able to do to stop the foreclosure, delay the foreclosure, or even give you the time to attempt to refinance the home in a manner would be affordable to you following a bankruptcy.
One of these actions available to many people seeking to save their home is to file for chapter 7 or chapter 13 personal bankruptcy.
How Chapter 7 Bankruptcy Can Save Your Home From a Foreclosure
When a personal chapter 7 bankruptcy claim is filed, an automatic "stay" is issued to all creditors. This "stay" stops all debt collections actions, debt litigation, and yes, your foreclosure as well. While the "stay" is only temporary, pending the outcome of the bankruptcy claim, the bankruptcy can help you in a few ways:
How Chapter 13 Bankruptcy Can Save Your Home From a Foreclosure
While an automatic "stay" is issued to all creditors involved in the bankruptcy, the stay is only temporary, and following the bankruptcy, the home lender will still want their money if the debt has not been absolved in the bankruptcy, and may resume their debt recovery or foreclosure efforts.
If you do not have the money necessary to stop the foreclosure or have not made an agreement with the home lender that will stop the foreclosure process, the foreclosure will occur if the home lender wants it to happen.
Even when this happens, you still have options and rights that must be protected.
We are extremely detailed in our preparation regarding bankruptcy and bankruptcy related legal issues, provide a comprehensive approach in seeking a successful bankruptcy, and guide you through this difficult process with the dignity and respect you deserve.
There may be many other Chapter 7 Bankruptcy issues that may have to be addressed, depending upon your unique circumstances and how the bankruptcy laws apply to your current situation.
Contact an experienced Chapter 7 Bankruptcy Attorney (lawyer) at the Budgen Law today to schedule a free and confidential legal consultation.
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