Wayne County Foreclosure Defense Attorney
How Filing for Bankruptcy Can Help
Foreclosure is the process of the lender or bank taking ownership of a property after several missed mortgage payments from the debtor; in some cases, it may take as little as three or four missed payments to kick start the process. In a foreclosure, the home will be placed for auction to pay off the remainder of the loan. The foreclosure process involves many steps, starting with notifying the homeowner that the bank is seizing the property. When you work with a bankruptcy lawyer in Wayne County from our team, we will help determine the correct chapter of bankruptcy for you to file under and begin immediately gathering necessary paperwork and documentation to help you file for either Chapter 7 or Chapter 13 bankruptcy as soon as possible.
Once bankruptcy is officially filed, an automatic stay will be placed on your accounts. This stay is a court order that will halt all collection attempts immediately by creditors, lenders, and banks. If your home is being foreclosed, filing for bankruptcy will immediately stop all repossession attempts and postpone foreclosure. It is true that a creditor can file for a motion to lift the stay and potentially restart the foreclosure process, but this process typically does not happen for at least three to four months post-file. The amount of time that you may have between filing and the threat of a motion to lift the stay happening can give enough time to reevaluate your finances and determine if you can pay back debts.
How Our Wayne County Foreclosure Lawyers Can Save Your Home
When you are facing foreclosure, filing for bankruptcy may be highly beneficial. If you file under Chapter 7 or
Chapter 13 when facing the foreclosure process, you may be able to put a halt on the foreclosure process-allowing you time to regain control of your finances and save your home. Searching for a lawyer for your bankruptcy in Wayne County? If you know that you will be facing foreclosure in the near future or the foreclosure process has already begun, you need to contact Bryant, Logan, Wheeler Law Group, PLC right away. At our firm, we are proud to have assisted numerous clients in stopping the foreclosure process and assist them in keeping in their homes and investments. If you have questions or concerns regarding your situation and if you are eligible to file for bankruptcy, do not hesitate to
contact a Wayne County bankruptcy attorney today to schedule a
free case evaluation.