Stop Foreclosure in St. Louis
When a home lender begins the process of sending foreclosure letters to a homeowner, it tends to be sort of a wakeup call that signifies something needs to be done. It is at this point that many realize just how behind they are with their payments and they start panicking, wondering if there is any way to stop foreclosure in St. Louis. Many clients are stunned to find out that there actually is a way to stop the process of foreclosure so that they can stay in their home and start getting their finances into better shape.
So, what’s the secret to stopping foreclosure threats? Although it may not necessarily be the most ideal solution, filing for bankruptcy can help to cease the calls, letters and any repossession that is planned. Filing for Chapter 7 or Chapter 13 bankruptcy creates an automatic stay which essentially causes creditors to stop their collection efforts, which certainly takes away much of the stress associated with multiple debts.
For some filing for Chapter 7 bankruptcy is necessary, as it does not require the individual to repay any of their accumulated debt, or for those who have a steady source of income Chapter 13 might be a better idea. Chapter 13 bankruptcy requires that the person be provided with a low, manageable monthly payment that combines all of their debt owed. Regardless of which type is chosen, foreclosure notices cease to exist.
If you have been desperately searching for a way to stop foreclosure in St. Louis, we may have your answer. Contact the Teague & Associates, LLC office at (314) 899-4499 to learn more about what we can do for your financial future.