Stop foreclosure in St. Louis with Chapter 13
Can I use bankruptcy to stop foreclosure in St. Louis?
Yes, a bankruptcy filing can be used to stop foreclosure of your residence or any real estate you own. More and more, I am seeing people who wait too long to call a St. Louis Bankruptcy Attorney. Instead, they spend months and even years seeking a loan modification. Unfortunately, many people fall way behind while waiting for a modification. Lenders often “lose” the paperwork or wait too long to tell you that you don’t qualify.
Let me be clear here: you don’t have to choose to do one over the other. Many of my clients who seek to file bankruptcy to stop foreclosure in St. Louis later seek to modify their loan through the lender. If you have fallen behind on your mortgage payments, you should contact a St. Louis Bankruptcy attorney as quickly as possible so that you don’t risk falling even further behind. The attorney can help you stop foreclosure in St. Louis before it is too late.
A Chapter 7 Bankruptcy can be used to delay a foreclosure. Filing for Chapter 7 Bankruptcy relief can be used to stop foreclosure in St. Louis with the bankruptcy filing in most circumstances. However, Chapter 7 bankruptcy does not give you the opportunity to repay the missed mortgage payments.
A Chapter 13 Bankruptcy, however, does allow you to stop foreclosure and enter into a court-supervised repayment plan that will give you the opportunity to repay the missed mortgage payments. Since any type of bankruptcy is supervised by the bankruptcy court, the mortgage lender is under an obligation to follow the court’s directions and to stop foreclosure in St. Louis under almost all circumstances.
This same principle applies to real estate tax sales. A bankruptcy filing, in general,will stop the sale, and a Chapter 13 Bankruptcy will allow you to repay the missed taxes.
 |
Sean C. Paul is licensed to practice law in the State of Missouri, and has been admitted to practice in the Federal Courts of the Eastern District of Missouri, the Southern District of Illinois, and the Central District of Illinois. He worked for one of the largest firms in the country as a bankruptcy attorney before starting this firm.Sean C. Paul will give you the individual attention you deserve. He understands the importance of your financial decisions, and wants to help you make the best one, whether it’s a Chapter 7 Bankruptcy, a Chapter 13 Bankruptcy, or something else entirely.Sean C. Paul, Attorney at Law Google+ Profile |