If you find yourself deep in debt and facing the possibility of foreclosure on your home, consider filing for bankruptcy. Filing for bankruptcy can stop the foreclosure process and give you the time you need to restructure your mortgage and save your home. Your debts will be eliminated or consolidated during the process as well. Having an experienced and knowledgeable bankruptcy lawyer on your side can make the process easy and quick. When you are feeling the pressure from growing debts and are facing foreclosure on your home, call the Columbus bankruptcy attorneys at Rauser & Associates Legal Clinic. We can help you defend against foreclosure on your home and property.
How Bankruptcy Stops Foreclosure
When you file for bankruptcy, an automatic stay goes into effect immediately. This means that all collections actions against you will be legally stopped, including collections calls, lawsuits, eviction and foreclosure. This is how bankruptcy can stop foreclosure. Filing for bankruptcy can give you the time you need with your bankruptcy attorney to go through your options and make the choice best suited for you and your unique financial situation. You may file for bankruptcy in either Chapter 7 or Chapter 13, and your attorney can help determine which chapter is best for you.
Chapter 13 and Chapter 7 Bankruptcy
When you file for bankruptcy in Chapter 13, your debts will be restructured and reorganized. Your mortgage will be consolidated and reorganized into manageable monthly payments along with any other outstanding debts or unpaid loans. An automatic stay will have gone into effect, and with foreclosure proceedings stopped, you will be able to carefully consider your next steps. You may be able to sell your home or property or renegotiate your mortgage. Your Rauser & Associates bankruptcy attorney can help determine which actions to take next regarding your home and your financial situation.
When you file for bankruptcy in Chapter 7, your debts will be liquidated. An automatic stay will go into effect the moment you file, which will stop foreclosure. Every situation is unique, and your bankruptcy attorney can help you decide which actions to take that will be best for your particular bankruptcy.
Contact a Bankruptcy Attorney Today to Stop Foreclosure in Columbus
If you are in debt and living in fear of foreclosure, call Rauser & Associates Legal Clinic in Columbus. Our bankruptcy attorneys can help you take the appropriate steps to stop foreclosure. Call today.
