Foreclosure and Reposessions
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Consider our firm if you need an Arlington Bankruptcy Lawyer, a Dallas Bankruptcy Lawyer, a Fort Worth Bankruptcy Lawyer, a Mansfield bankruptcy lawyer.
Foreclosure and Reposessions
Filing bankruptcy enables you to stop repossessions and foreclosures and protect your important assets and give you a chance to catch up with your payments.
Once you file bankruptcy this will stop your creditors from making any attempt to collect their debt, including attempting foreclosure of a home or repossession of a car.
However, it is extremely important to note that if you are behind on making your payments, filing Chapter 7 bankruptcy will delay but not permanently prevent a repossession or foreclosure. The automatic stay will expire approximately 60 days after your Chapter 7 bankruptcy case is filed. Only a Chapter 13 bankruptcy allows you to cure delinquent payments and keep your property.
Some items often repossessed by lenders include vehicles and tools. In both cases, the repossession can be devastating on the owner. Without tools, you may be prevented from earning a living. Without a car, you may have no way of getting to work.
Even if the item has already been repossessed, you may be able to get it back if the lender has not yet sold it. In Texas, you are still the owner of the item if it has not been sold. Obviously, you need to act quickly to stop the lender from selling the item.
Ted Machi is Board Certified* in Consumer Bankruptcy law by the Texas Board of Legal Specialization. For over thirty years, he has helped the little guy in the DFW metroplex through effective, determined, professional representation. This page is for visitors searching for information on the term: Foreclosure and Reposessions.
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