How late is too late to file bankruptcy in order to stop foreclosure?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How late is too late to file bankruptcy in order to stop foreclosure?
Asked on May 17, 2011 under Bankruptcy Law, Colorado
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am sorry for your situation. The answer to this is generally yes, filing a Chapter 13 bankruptcy can indeed stay a foreclosure, but it depends on where in the process you are and there may be other issues to determine to see if this is right for you. A Chapter 13 is a reorganization and lets you - if possible - put together a repayment plan with the bank. A Chapter 7 does allow for you to reaffirm a mortgage but again, someone would have to look at your situation in its entirety to give you an idea of which way to go. Please get help. Try your state attorney general's office or any other state program that may be available. Good luck to you.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.