By Jeff Field | Published September 26, 2023 | Posted in Bankruptcy | Tagged Tags: automatic stay, equity, foreclosure, secured creditor | Leave a comment
When Can a Creditor Get Relief from the Bankruptcy Automatic Stay?
The day you file a Chapter 7 or Chapter 13 case with the bankruptcy court, an automatic stay is imposed that requires your creditors to cease their collection practices. The stay prohibits phone calls, letters, lawsuits, wage garnishments and executions on property, such as mortgage foreclosures. The court can impose penalties such as attorneys’ fees, Read More
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Using Chapter 13 to Stop Foreclosure
Chapter 13 is a form of bankruptcy that allows you to restructure your outstanding debts for repayment over an extended period of time. This includes defaulted home mortgage loans that are in the process of foreclosure. If you meet the eligibility requirements for Chapter 13, you can put a hold on the foreclosure, buy yourself Read More
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Using Chapter 13 Bankruptcy to Obtain Mortgage Debt Relief
Many people in financial distress are behind on their home mortgages. Debtors who have missed payments are at risk of losing their homes to foreclosure. One of the most effective strategies for saving a home from foreclosure is a Chapter 13 bankruptcy. This type of bankruptcy is also called a wage earner’s plan, because it Read More
Read MoreUsing Chapter 13 Bankruptcy as a Remedy for Mortgage Foreclosure
If you are in danger of losing your home to foreclosure, filing for Chapter 13 bankruptcy may be a smart, strategic move. It puts an automatic stay in place to prevent creditors from trying to collect owed payments. This stay also temporarily pauses the foreclosure process or prevents it from being initiated. As long as Read More
Read MoreWhat is a Deed in Lieu of Foreclosure?
The government has established a number of programs to help distressed homeowners who are late on their payments, who are underwater on their mortgage, who are unemployed or who need assistance to refinance their home. The government describes these programs in detail at the website www.makinghomeaffordable.gov. All of these programs seek to help homeowners dealing Read More
Read MoreIs There Anything I Can Do to Prevent a Foreclosure on My Home?
The answer to your question is an emphatic YES. While the prospect of losing your home can be overwhelming, competent, qualified Athens bankruptcy lawyers with experience in Georgia foreclosures can help you understand your options. The first option you have when you receive a foreclosure notice is to contact your lender directly and see what Read More
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