Yes, filing a bankruptcy will stop a Sheriff’s Sale on your home.
The specific potential benefits of a bankruptcy will depend on a person or married couple’s circumstances. Filing Chapter 7 or Chapter 13 bankruptcy stops most lawsuits and most other types of creditor collection activities including mortgage foreclosure.
Chapter 13 bankruptcy permits those who are eligible for Chapter 13 bankruptcy to propose a reorganization and repayment plan that can stop and prevent home foreclosure, stop a sheriff’s sales of real estate, possibly eliminate second mortgages, reduce auto installment payments and provide a way to repay other debt such as taxes and student loans. Chapter 13 bankruptcy may be an option to stop home foreclosures and permit a homeowner to catch up missed mortgage payments over time.
Only after a thorough discussion, including an analysis of your unique situation, can the possible benefits of a bankruptcy, and the specific benefits of Chapter 7 versus Chapter 13, be determined. This is one reason why at Kinkade & Associates we take the time to get to know you and your circumstances. We take the time to discuss and develop the appropriate strategy to provide you with relief from your debt and meet your specific need, such as stopping a Sheriff’s Sale on your home or potentially rescuing your home from foreclosure.
Your opportunity for debt relief begins with a phone call to set an appointment with one of our experienced debt relief attorneys. Please give us a call or contact us by email by filing out the contact form on this page.