Chapter 13 Bankruptcy Proceedings Stop Foreclosures
A Chapter 13 proceeding is the most effective means for avoiding foreclosure when a foreclosure sale has been scheduled and the individual or family facing foreclosure has sufficient income to pay their ongoing mortgage, cure any arrearage, and pay some portion of their unsecured debts.
Upon the filing of a Chapter 13 proceeding, an order is entered by the federal bankruptcy court that stops the mortgage company from proceeding with the foreclosure. The Chapter 13 "wage earning plan" is prepared by our bankruptcy attorneys and submitted to the court. This plan will allow the individual with regular monthly income to pay his or her ongoing mortgage payment, and catch up missed mortgage payments over a period between 36 and 60 months, depending upon that individual's particular circumstances.
You may contact one of our Grand Rapids attorneys by phone at 616-364-2100 or by e-mail.
We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.
