Can a bankruptcy stop a foreclosure?

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Can a bankruptcy stop a foreclosure?

One of the most stressful parts of being in a dire financial situation is that a person in debt may fear they will lose their home due to a foreclosure. Though many people are wary about filing for bankruptcy, what they may not realize is that filing for bankruptcy can actually put a stop to a foreclosure as soon as bankruptcy is filed.

Filing bankruptcy will implement an automatic stay, which means that mortgage lenders and any other creditors you have debts with are no longer allowed to contact you at all. This means no more phone calls, emails, letters in the mail, or repossessions, which is a serious weight off of one’s shoulders. Now, you can work with an experienced bankruptcy attorney to focus on figuring out a way to save your home and possibly even discharge some of your other debts.

Depending on which type of bankruptcy you file, you may be able to restructure some of your debts, which gives you a chance to make smaller payments over a longer period of time. If you have questions about how you can save your home and stop a foreclosure, as well as rid yourself of other debts, contact an experienced bankruptcy attorney today.

Juan C. Velasco, Esq. is a trusted attorney who concentrates on bankruptcy, family law, real estate, and estate matters who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.  

About the Firm

Juan Velasco, Esq. has over 25 years of experience passionately practicing law. Juan Velasco provides legal counsel to individuals, corporations, and institutions concerning substantial legal and financial matters.

Velasco represents clients in formal and legal proceedings, including negotiations to ensure amicable settlements that benefit their needs. He has over 2 decades advising clients concerning legal options available in complicated transactions. Mr. Velasco has drafted countless contracts and supporting documents for his New Jersey clients. He responds to inquiries, assisting clients in determining the most favorable position. He also provides legal guidance concerning appropriate business actions.

 

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1870 Route 27 – Suite 202
Edison, New Jersey 08817

Our offices are conveniently location on Route 27 in Edison, New Jersey, Attorney Velasco is ready to actively protect your interests. If you are in need of a passionate and effective lawyer, contact Velasco Law Office.




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