STOP FORECLOSURE

During tough economic times, foreclosures and  vehicle repossessions are common, leaving many people desperate to save  their home, car, and other possessions. Most people do not realize that  filing bankruptcy can stop home foreclosure, stop repossession, and help  them keep most of their property. If you are falling behind on mortgage  payments, car payments, and other debt, you should consult with a  bankruptcy lawyer in Tampa from Attorneys and Debt Counselors for a free  consultation about the legal options available to you.

Federal bankruptcy laws are part of U.S. Code, Title 11. The two main  chapters of this code dealing with bankruptcy for consumers are Chapter 7  and Chapter 13. Either of these chapters may be of assistance if you  wish to stop foreclosure, stop repossession, and stop bill collector  harassment.

 A Chapter 13 bankruptcy often provides the best solution for people who  want to stop foreclosure, repossession, and bill collector harassment.  With a Chapter 13 bankruptcy, you will receive an "automatic stay" from  the bankruptcy court. An automatic stay forces bill collectors to halt  all debt collection efforts, including foreclosure and car repossession.  In addition to the automatic stay, you also will receive 3 to 5 years  to catch up on your current and past due debt payments. As long as you  make your payments as agreed upon in the Chapter 13 bankruptcy plan,  foreclosure proceedings, repossessions, and other collection attempts  will end.

 The other option is a Chapter 7 bankruptcy. This is a liquidating  bankruptcy, meaning that some or all of your property may be sold to pay  back your creditors. However, in a Florida Chapter 7 bankruptcy, you  may be able to make some of your property exempt, protecting it from  being sold or liquidated. Common exemptions in a Florida Chapter 7  bankruptcy could be your home, vehicle, and certain other personal  items.

Both Chapter 13 and Chapter 7 bankruptcies are complex, and mistakes are  costly. A Florida bankruptcy lawyer should be your resource for  explaining all the options available to you, especially the options that  stop foreclosure, stop repossession, stop bill collector harassment,  and provide Florida debt negotiation services. 

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