If the fear of losing your home is a source of hesitation for you, it may help to have a better understanding of how your house and mortgage are handled in a Monmouth county bankruptcy.
People often consider bankruptcy an option of last resort – something they only consider after months, even years, of battling financial hardship. It is unfortunate that debtors wait so long to consider bankruptcy because valuable assets are frequently lost unnecessarily as a result of waiting. One reason that people give for not considering bankruptcy sooner is concern for the fate of their home if they pursue bankruptcy.
Topics covered in this white paper include:
- The bankruptcy chapters
- The automatic stay and foreclosure proceedings
- Your home in a Chapter 7 bankruptcy
- Your home in a Chapter 13 bankruptcy
- Final thoughts
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