Can Chapter 13 Bankruptcy Stop Foreclosure?
Many people file for Chapter 13 bankruptcy specifically to stop foreclosure. In most cases, an automatic stay is entered as soon as a Chapter 13 bankruptcy petition is filed. The automatic stay should temporarily stop foreclosure, along with all other collection action, regardless of the stage of the foreclosure proceedings. With the automatic stay in place, the debtor and his attorney have the breathing room to work out a Chapter 13 repayment plan.
Related Questions
- How far in advance of the foreclosure sale do I need to file my chapter 13 in order to stop foreclosure, or if I know bankruptcy will end up my best solution should I just do it right now?
- Does a Chapter 13 bankruptcy in Arizona save the home from foreclosure?
- Would Chapter 13 Bankruptcy Be Able to Stop Home Foreclosure?
