Filing bankruptcy automatically triggers the Automatic Stay. The Automatic Stay can prevent foreclosures, as well as repossessions, wage garnishments, utility shutoffs, and other methods of creditor collection.
Chapter 13 bankruptcy was designed to give those struggling with debt a fresh start. This includes people who are facing foreclosure due to missed mortgage payments. In Chapter 13, your past-due balance will be spread out over the course of your 3-5 year payment plan. Your payment plan will also include your current mortgage payments, so your home is protected as long as your bankruptcy is in good standing. To learn more about the Chapter 13 process, call our office for a free bankruptcy consultation.
Saving your home isn’t the only reason you may be benefited by a bankruptcy filing. Our Reno Bankruptcy Lawyers will help you with any type of debt crisis, including fighting a foreclosure. When life circumstances cause your debt situation to get outside your control, our office is here to help.
Until your house is sold at a foreclosure sale, it’s not too late to save your home. Protecting your home should be a priority for you and your family, so don’t wait to take action. Your home is more than a piece of real estate or an equity balance- our Reno Bankruptcy lawyers understand that and will help you make an educated decision about how to deal with an impending foreclosure.