When you file a Walworth County Bankruptcy, an “automatic stay” is issued. This means that any creditors, even the lender for your home mortgage, cannot take any action for non-payment against you. If you are about to be issued a Walworth County foreclosure, it will be prevented from happening. If you have already been issued a Walworth County foreclosure notice, it can stop or pause the proceeding. As always, there are some exceptions, so please contact our Walworth County Foreclosure Attorney at 262-725-0175 to discuss the details of your Walworth County Foreclosure case.
Walworth County Foreclosure and a Chapter 7 Bankruptcy
When you file a Walworth County Chapter 7 Bankruptcy, you will get to choose which secured debts you wish to keep, such as your home. If you wish to keep your home, you can reaffirm the debt with your mortgage lender. Your home will then be excluded from the discharge in your Walworth County bankruptcy proceedings; you will continue making mortgage payments as promised per your original loan agreement, and your home will be safe. A Chapter 7 Bankruptcy can help you avoid a Walworth County Foreclosure. Be sure to contact our Walworth County Foreclosure Attorney is discuss the details of this process at 262-725-0175.
Walworth County Foreclosure and a Chapter 13 Bankruptcy
When you file a Walworth County Chapter 13 Bankruptcy, you get the opportunity to catch up on your late payments and debts through a repayment plan. If you wish to keep your home, you will have the opportunity to catch up on your late mortgage payments over a certain length of time which will depend on the repayment plan you submit. As long as you meet the terms of your Walworth County Chapter 13 Bankruptcy repayment plan, you will avoid a Walworth County Foreclosure on your home. Please contact our Walworth County Foreclosure Attorney to discuss the details of this process and also how it pertains to 2nd and 3rd mortgages at 262-725-0175.
Contact Our Walworth County Foreclosure Law Office
If you are facing a Walworth County Foreclosure, it is imperative that you do not hesitate when taking action to keep your home. The longer you wait, the harder it will be to stop a Walworth County Foreclosure. If you feel bankruptcy may be the only option to saving your home from a Walworth County Foreclosure, the sooner you file, the better your odds of saving your family’s home. Contact our Walworth County Foreclosure law office today, by phone at 262-725-0175 or by email via our law office contact page.
*The content and material on this web page is for informational purposes only and does not constitute legal advice.
Photo by Flickr Creative Commons Chris Potter