15701 S. Tamiami Trail, Fort Myers, FL 33908

Can Bankruptcy Stop Foreclosure?

Using Bankruptcy to Avoid or Delay Foreclosure

One of the weapons against foreclosure is another type of litigation: bankruptcy. Filing for bankruptcy to avoid or delay foreclosure on your home has both advantages and disadvantages.

The Law Office of Kevin F. Jursinski helps its clients weigh and balance the advantages and disadvantages to bankruptcy and determine if bankruptcy is the right choice for you to avoid foreclosure. Meet with our firm for Fort Myers foreclosure assistance.

Foreclosure Prevention

Here are some basics about Chapter 7 and Chapter 13 bankruptcy and their effect on foreclosure: The effect of the automatic stay in bankruptcy actions

When you file for bankruptcy under either Chapter 7 or Chapter 13, the Bankruptcy Court issues an automatic stay, which requires that your creditors cease their collection actions immediately. At the very least, the automatic stay delays your foreclosure action.

Chapter 7 bankruptcy

Chapter 7 bankruptcy cancels the debt that is secured by your home, including your mortgage, your second mortgage, and home equity loans. Nonetheless, it does not remove the lien that was recorded against your home. As a result, Chapter 7 bankruptcy cannot cancel a foreclosure.

Chapter 13 bankruptcy

Chapter 13 bankruptcy allows you to pay off your arrears on your mortgage over the length of your repayment plan. If you keep up your payments, you will avoid foreclosure..

For a Chapter 13 bankruptcy to work, you need enough income to at least meet your current mortgage payment at the same time that you are paying off your late payments.

Let our experienced foreclosure lawyers help you sort through the advantages and disadvantages of using bankruptcy to avoid foreclosure. Contact us for an initial consultation about your foreclosure matter and/or the possibility of bankruptcy.

Call 1-877 291-3926 for foreclosure assistance.

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Law Office of Kevin F. Jursinski & Associates
15701 S. Tamiami Trail
Fort Myers, FL, 33908 USA
239.337.1147