Ways to Avoid Foreclosure

At the law offices of West Palm Beach bankruptcy attorney Eric N. Klein & Associates, P.A., we understand that foreclosure means far more than having to move to a different home. For many families it means leaving old neighbors and friends, switching their children to new schools, and perhaps even periods of homelessness. There is good news for families in this difficult situation, however: a good West Palm Beach foreclosure attorney may be able to help.

Eric N. Klein & Associates, P.A. are prepared to help you. There are never guarantees in civil law, but there is a chance that one of the following methods may help you keep your home – or at least give you time to work things out.

Bankruptcy and the Automatic Stay

When you file for bankruptcy, the court will issue an order called the “automatic stay.” This court order forces all of your creditors to immediately cease all collection activities against you. If your home is in danger of foreclosure, this automatic stay will halt the process, allowing you at least several months to work out your debt.

Be aware, however, that there a few ways in which banks can try to get around the automatic stay. Before you file for bankruptcy, be sure to consult with an experienced West Palm Beach bankruptcy attorney.

Fighting Foreclosure

Under Florida law, lenders must notify people before issuing liens on their property. When you have been notified of a pending foreclosure, you have 20 days to respond. Most banks are very large corporation where many different people handle lots of complicated paperwork. It is possible that the foreclosure against your property is invalid for a number of legal reasons. An experienced West Palm Beach bankruptcy lawyer can help you find ways to protect your property.

Chapter 13 Bankruptcy

If you file for Chapter 13 bankruptcy, any pending legal actions against you will be suspended while your payment plan is worked out. Certain debts may be discharged entirely, which means those lenders will not be able to take legal action against you. This will allow you to focus your time and effort on repaying non-exempt debts such as mortgages.

A Chapter 13 payment plan will allow you to consolidate all of your non-exempt debts, so you will have one regular payment to make instead of many. A lot of people in serious debt find that this route is the best way to settle their debts while keeping their property.

Contact Us

To learn more about avoiding foreclosure through bankruptcy, contact West Palm Beach bankruptcy lawyers Eric N. Klein & Associates, P.A. at 561