Stop Foreclosure with Chapter 13

It is possible to stop the foreclosure of your home by filing for Chapter 13 bankruptcy. If so, how?

In many cases people file for this type of bankruptcy solely to prevent the sale of their home as a last-ditch resort. 

Under this category of bankruptcy you can discharge a few of your debts, and the rest you will be asked to pay off through a payment plan. This will last between three to five years, after which the rest of your debts will be discharged. However, you must make good on all of your payments, otherwise your bankruptcy will be nullified and you will be back where you started.  If that happens then the mortgage company can petition the bankruptcy court, prompting a foreclosure proceeding to be re-opened. 

Are you in danger of losing your home to foreclosure? Don't waste another day worrying about your home when you can take charge by contacting our firm and working with a Chicago bankruptcy lawyer.