How To Stop Foreclosure With A Bankruptcy Lawyer in St. CharlesComments Off on How To Stop Foreclosure With A Bankruptcy Lawyer in St. Charles
Foreclosure threats are many things: stressful, overwhelming, and frightening. If your property is under threat of foreclosure, it may seem like there are no options to delaying or preventing it from happening. Before you decide what you need to do in your situation, know that you have options. Our team at Teague & Associates, LLC, can advise you on how to delay or even stop foreclosure with a bankruptcy lawyer in St. Charles.
Going to a lawyer for advice on your foreclosure is prudent. Not only can an attorney advise on you on whether to file for Chapter 7 or Chapter 13 bankruptcy to keep your home or postpone foreclosure, but they can evaluate your situation with an objective eye and keen knowledge of the law to find options that give you peace of mind in this difficult situation.
Foreclosure takes time, usually several months, to complete, and that is after several failed attempts at timely mortgage payments. When you can, of course, do your best to meet your mortgage obligation. However, in the event of hardship, a bankruptcy filing can aid in relieving your debt. Filing for bankruptcy requires all creditors to temporary stop attempting to collect payments from you, which can give you time to come up with a plan and let you keep your home in the meantime.
If you wish to keep your home, filing Chapter 13 bankruptcy allows you to set up a payment plan in arrears. To do this, you need to pay your past due amount at the same time as your current payment, but this is one way to prevent foreclosure and let you continue to make payments on your home.
When you need carefully-considered guidance on your options in foreclosure and bankruptcy filings, you need a lawyer who specializes in these situations and stands ready to assist you. Call Teague & Associates, LLC, today at (314) 899-4499 to find out more about how you can stop foreclosure with a bankruptcy lawyer in St. Charles.