Why file bankruptcy? It’s a fair question, and deciding to file may be a big decision. However, each year hundreds of thousands of people turn to bankruptcy for help in clearing their debts and getting a fresh financial start.
But bankruptcy can offer more benefits than just debt relief. In addition to solving debt woes, one of bankruptcy’s most compelling features is its ability to temporarily stop home foreclosure.
Read below to learn more about bankruptcy’s effect on foreclosure. Or, if you’d prefer to ask a local bankruptcy lawyer whether you should file bankruptcy, fill out the brief form below.
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Struggling homeowners looking to save their homes from foreclosure often find a very specific answer to the question of why they should file bankruptcy.
Chapter 13 bankruptcy is often the primary type of bankruptcy used to halt foreclosure in the following manner:
Stopping home foreclosure is a primary reason why many people file for bankruptcy.
When people file for Chapter 13, there are several other benefits that come with the restructured debt payment plan. These include:
These are just a few of the many reasons why people file bankruptcy. Contact a local bankruptcy attorney today to ask if bankruptcy is right for you.