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Can I file Chapter 7 in order to stop a repossession or foreclosure?

April 26, 2017chapter 7 file foreclosure repossession

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Can I file Chapter 7 in order to stop a repossession or foreclosure?

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If you are considering filing bankruptcy in order to save your home from foreclosure or avoid repossession of a car, Chapter 7 may not be your best option. This is because Chapter 7 bankruptcy does not eliminate the right of banks or car loan creditors to foreclose on your home or property to cover your debt. If you want to stop a repossession or foreclosure, you should consider your options under a Chapter 13 debt consolidation.