You Have Options: Stop Foreclosure With a Bankruptcy Lawyer in O’FallonComments Off on You Have Options: Stop Foreclosure With a Bankruptcy Lawyer in O’Fallon
Financial struggles are more common than ever. If you are having difficulties paying your debts due to medical problems, divorce, job loss, a death in the family or other significant life-altering event, then you are probably concerned about losing your home or other personal property. The foreclosure process can be overwhelming, frightening and ominous, especially since nonpayment of mortgage payments can become a legal issue. If this sounds like your situation, then you require bankruptcy protection and need to learn how to stop foreclosure with a bankruptcy lawyer in O’Fallon.
If you are having a tough time paying your bills, then you are likely wondering how a bankruptcy attorney can help, especially since a qualified lawyer is expensive– right? However, partnering with a trustworthy and experienced bankruptcy attorney can actually help to protect you and your family from foreclosure by offering bankruptcy protection.
See how working with a bankruptcy lawyer can assist you in stopping foreclosure.
Chapter 7 or Chapter 13 Bankruptcy – In most cases, filing for Chapter 7 or Chapter 13 bankruptcy can delay foreclosure. Chapter 7 can postpone the process from 1 to 3 months, which might be enough to permit you and your family welcome relief and the necessary time to recover financially.
Automatic Stay – A court-ordered automatic stay is an injunction that means your creditors must stop all collection practices immediately after the bankruptcy petition has been filed. If your home is listed for a foreclosure sale at this time, the sale will then be postponed while bankruptcy is pending.
For additional information about different bankruptcy options and how you can stop foreclosure with bankruptcy lawyer in O’Fallon, and for legal inquiries relating to foreclosure, call or text the legal professionals at Teague & Associates, LLC today at (314)899-4499. We’ll be sure to explain your options and give advice on what we view to be the best possible outcome for your situation.