When a homeowner has worked diligently to pay their mortgage only to fall on hard times and get behind, it can be devastating. No homeowner wants to be forced out of their home because of a foreclosure in Topeka, KS. Thankfully, there are options for homeowners, and they can legally overcome the debts they owe and be given time to pay their mortgage.
How to Start the Process
To start the bankruptcy process, a person first needs to schedule a consultation with the lawyer to discuss their foreclosure in Topeka, KS. It is important a person brings in all of the information their lawyer asks them to so the lawyer can determine if chapter 13 is the best option.
Chapter 13 is a type of bankruptcy that can allow individuals to overcome their debts by being given an extended period to pay them. A repayment schedule must be submitted to the court for approval and, once approved, the bankruptcy is in effect.
Chapter 13 bankruptcy prevents creditors from trying to pursue the debtor in any way during the bankruptcy period. This means they cannot start the foreclosure process on the home. During the period of three to five years the individual is given, they must make payments to the court and are responsible for working towards keeping their mortgage payments current. If, at the end of the period, they have caught up their payments in arrears, they will no longer be threatened with foreclosure.
Schedule a Consultation
It is imperative for homeowners to schedule a consultation right away so they can get started on the process of avoiding foreclosure. It is wise to contact a lawyer before the foreclosure process is started so there will be time to file for bankruptcy before it begins.
Those homeowners who are facing the possibility of foreclosure need to seek legal help right away. With the help of a lawyer, foreclosure can be avoided and a homeowner can take action to keep their home. If you are in need of these legal services, contact the law office of Joe Wittman. Allow him to help you overcome debts and keep your home.