Since 2003, I have been a St. Louis bankruptcy attorney. In the last ten years, I've represented a myriad of bankruptcy clients, helping clients dispose of tens of millions in debts and stopping thousands of foreclosure sales. Let me discuss why Chapter 13 bankruptcy in most cases stops the foreclosure process in Missouri.
If the client has not had more than one bankruptcy cases dismissed within the previous 12 months, filing Chapter 13 bankruptcy puts in place what is known as an automatic stay. An automatic stay is an automatic injunction, which ends actions by creditors, including foreclosure sales. If a homeowner has not had a bankruptcy dismissed within the past year, the filing of a Chapter 13 bankruptcy case will put in place this automatic injunction without further legal action.
Stalling the foreclosure sale then gives the Chapter 13 client another chance to keep the client's home and affords up to 48 months to repay the past due mortgage amount in a repayment plan approved by a federal court.
If you have a foreclosure sale pending, let me talk with you about how Chapter 13 bankruptcy may stop your foreclosure and give you a second chance to keep your house.
See the video-http://youtu.be/ZMEOpvfsWoc
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