Foreclosures can be a frightening thought. A person has worked hard to save up for the down payment on a home, found a home they love, and then make payments every month faithfully. When something happens and they can no longer make their full payments on time, they may start getting warnings about the home going through foreclosure. When they get a notice that foreclosure is imminent, they may start looking for a way to Stop Foreclosure St. Charles MO.
One way to stop a foreclosure is to file for bankruptcy. The foreclosure cannot continue while the bankruptcy is proceeding and the bankruptcy may allow the person to catch up on the payments they have missed. If a person files for Chapter 13 bankruptcy, for example, the payments will be combined with other debts into a single monthly payment. After three to five years of on-time monthly payments, the bankruptcy will be complete and the person will be caught up once again. This usually means they’re able to keep their home and other assets.
If a person wants to Stop Foreclosure in St. Charles MO by filing for bankruptcy, they need to speak with a lawyer as soon as possible. A bankruptcy lawyer can review their assets, determine which chapter they should file under, and help them through the entire process. The attorney will also field any debt collector calls, so the person doesn’t have to worry about getting multiple calls a day any longer. The attorney can explain how the chapter they’re filing under works, what will happen to the home, and how long the process is going to take so the person knows exactly what to expect. It’s important to contact an attorney as soon as possible so they can prevent the foreclosure.
Anyone who is facing a foreclosure can browse the website of a law firm like the Law Offices of Steven K. Brown to learn more about bankruptcy and how it might be able to help them. Once they have decided to file for bankruptcy, or if they would like to know if it’s the right step for them, they can contact a lawyer and set up a consultation appointment.
