Thousands of people across the country are faced with home foreclosure every year. That doesn’t have to be in your future. Filing for bankruptcy can help you save your home, buying you the extra time you need to get caught up with your mortgage payments.
For many Utah homeowners, bankruptcy is a smart solution – and the professional team at the Law Office of Davis & Jones, P.C., can determine if filing is in your best interests. We’ve been helping people resolve their debts since 1995, and our experienced lawyers have guided more than 20,000 clients through the bankruptcy filing process. With us, you can put a stop to foreclosure, get out of debt and take control of your finances.
The Automatic Stay in Bankruptcy
When you file for bankruptcy in Utah, the law provides immediately relief known as the Automatic Stay. This injunction acts as a court order prohibiting your creditors from taking any further collection actions.
If your home is scheduled for a foreclosure sale, filing for bankruptcy is a way to legally postpone the proceedings. If you opt to file for Chapter 13 over Chapter 7 bankruptcy, you can bring the foreclosure to a permanent halt.
Save Your Home with Chapter 13 Bankruptcy
With a Chapter 7 bankruptcy, home foreclosure will be put on hold while the case is pending. However, mortgage lenders can ask the court to lift the automatic stay and allow the foreclosure to proceed – which means you may only have a few months before the property is foreclosed on.
If you want to keep your home and stop the foreclosure sale from ever happening, you’ll need to file a Chapter 13 bankruptcy case. In Chapter 13, you’ll be able to make a plan to pay off your mortgage arrears over the course of three to five years. Your other debts will also be included in the repayment plan, enabling you to pay them down. Any eligible debts that remain after you make your final Chapter 13 plan payment will be discharged.
Talk to a Qualified Lawyer to Stop a Foreclosure Sale
If you’re hoping to stop a foreclosure sale and save your home, filing for Chapter 13 bankruptcy can be a great strategy. Once the process is complete, you’ll not only work out your mortgage problems – you’ll also be on better financial footing.
A legal professional can determine if you qualify for Chapter 13 bankruptcy and, if so, whether filing a claim is your best debt relief option. At the Law Office of Davis & Jones, P.C., we have extensive experience stopping home foreclosures. Our bankruptcy lawyers would be happy to answer your questions and offer the advice you need. You’ll be in good hands with us, as our team will do whatever we can to set you up for a fresh financial start.
Let us help stop foreclosure and save your home – contact our Salt Lake City, Utah, or St. George, Utah offices and schedule a free, noobligation bankruptcy attorney consultation today.