Preventing Foreclosure through Bankruptcy
Individuals who are having difficulty meeting the demands of their financial situation may find themselves falling behind on important bills like credit card payments, student loans, and mortgage payments. People who fail to make timely payments on property that they own may be fearful of losing their home to foreclosure. In times of serious financial difficulty, some individuals may consider filing for bankruptcy to protect their home from foreclosure.
People who are facing serious financial troubles often do not know where to turn and may be unaware of the options available to them. If you are considering filing for bankruptcy, consult an experienced Austin bankruptcy lawyer of Slater, Kennon & Pugh Ltd.LLP at 512-338-1100.
Bankruptcy and Foreclosure
People who are looking to save their homes from foreclosure may consider bankruptcy filings to protect their property. Filing for Chapter 13 bankruptcy may mean the following:
- Bankruptcy may prevent foreclosure on a homes or property
- Individuals may be able to make up delinquent payments over time
- Individuals may be able to propose a payment schedule to repay the debt
- Allows for reorganization of debts including other loans and lines of credit
- May allow for unsecured debts to be paid without accruing interest
Contact an Austin Bankruptcy Attorney
Individuals facing dire financial situations may doubt their ability to maintain possession of their homes and may face foreclosure if they are unable to make regular mortgage payments. If you are in serious financial distress and are considering filing for bankruptcy, contact an Austin bankruptcy attorney of Slater, Kennon & Pugh Ltd.LLP at 512-338-1100.