TO STOP FORECLOSURE:
Chapter 13 can be a great financial tool to help you stop creditor actions that threaten your family and your way of life. The minute you file Chapter 13, a legal protection called the “Automatic Stay” comes into existence and, by law, all creditor action must stop.
Chapter 13 Bankruptcy puts an immediate stop to foreclosure and allows you to take up to 5 years to pay back your missed mortgage payments and other debts. Chapter 13 can also stop repossessions, lawsuits, and garnishments. In many cases, you can wipe out some or all of your credit card debt as well.
The types of creditor actions that must cease include:
* Foreclosures
* Repossessions
* Wage garnishments
* Harassing calls from bill collectors
* Collection letters
In order to qualify for Chapter 13, you must have a regular source of income, preferably in the form of a steady paycheck. Your Clark & Washington attorney will evaluate your income and expenses and calculate a repayment plan that will meet the approval of the Chapter 13 trustee and your bankruptcy judge. Once this plan is in place, you will remain protected from all creditor action while you fund your repayment plan. Chapter 13 plans typically last five years.
Chapter 13 can be a good choice if you want to keep your home, cars, and personal property, but you need time and better payment terms.
The Chapter 13 bankruptcy process is designed for an individual debtor who has a regular source of income and whose unsecured debts are less than $336,900 and secured debts are less than $1,010,650. Chapter 13 often offers more flexibility than Chapter 7 because it allows you to keep your house, your car and other hard assets, even if you have fallen behind with your monthly payments.
Here are some of the most common questions we hear from clients about Chapter 13 and mortgage foreclosures:
Emergency foreclosure help
I am facing a foreclosure within the next week, is there anything I can do
What exactly will I need for an emergency Chapter 13 filing
Understanding the foreclosure process
How far behind must I be before the mortgage company starts the foreclosure process?
What do I need to know about the foreclosure process in Georgia?
How will I know that my mortgage company has started foreclosure?
Once the lender starts foreclosure, is there anything short of bankruptcy that I can do to stop it?
Should I speak with any of those foreclosure prevention companies that I hear about on the radio or TV?
Are there any government programs that I can use to stop foreclosure?
Are there any alternatives to filing bankruptcy that I can use to fight a foreclosure?
How Chapter 13 Stops a Foreclosure
Can a Chapter 13 bankruptcy filing really stop a pending foreclosure?
What are the requirements to file a Chapter 13?
What documents and information do I need to get started to file Chapter 13?
How long does Chapter 13 take and when will it be over?
Can I file Chapter 13 only on my house, and leave the rest of my debts out?
Can I sell my house after I have filed Chapter 13?
I heard that no one gets paid if I file bankruptcy – how does Chapter 13 help me save my home?
If I file Chapter 13 is it guaranteed to work?
Does my spouse also have to file Chapter 13 with me?
Can I use Chapter 13 to stop a foreclosure on a rental property?
What about Chapter 7 or Chapter 11 bankruptcy – can they be used to stop a foreclosure?
How Chapter 7 Stops a Foreclosure
Can Chapter 7 stop a pending foreclosure?
What are the requirements to file a Chapter 7?
What documents and information do I need to file a Chapter 7?
Can I keep my house if I use a Chapter 7 to stop a foreclosure?
What is the difference between Chapter 7 and Chapter 13?
Why Clark and Washington
Why should I choose Clark and Washington to represent me in Chapter 13?
How much does Clark and Washington charge to file Chapter 13 save my home?
