Can I keep my home in Bankruptcy? Lawyer Oak Brook IL | (800) 519-0090
Call Now For Free Consultation | https://www.WipeOutBills.com
One of the main concerns of those considering filing for bankruptcy is that they will lose their homes. Some are already facing foreclosure, while others are struggling to continue making payments.
Despite what you may have heard, it is possible to keep your home and even your vehicle through the bankruptcy process. In some cases, it may be the only way to do so.
The Automatic Stay Gives Debtors More Time to Address Debt
In both Chapter 7 and Chapter 13 bankruptcy, something called the automatic stay goes into effect as soon as the bankruptcy petition is filed. The automatic stay puts a temporary hold on a creditor’s ability to seek payment. It also halts the foreclosure process for a time. While it is not a permanent solution, it gives you time to organize your debt and come to a payment agreement with the loan holder that is acceptable to all parties.
For More Information and a Free Consultation please call (800) 519-0090 or visit us online at https://www.WipeOutBills.com
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