Bankruptcy

Chapter 7

  Straight Bankruptcy

  Exempt Property

  Reaffirmations

Chapter 13

  Personal and Small
  Business Reorganization

  Saving Your Home

  Saving Your Automobile

  Protecting Co-Signers

  Monthly Chapter 13
  Plan Payment

  Your Chapter 13 Budget

Chapter 11

Chapter 12

If you have fallen behind in your mortgage payments, foreclosure can be stopped by a Chapter 13.  Normally, your mortgage company will not accept late or partial payments if you have fallen behind.  They usually demand all past due payments plus late charges, and if a foreclosure has been filed, attorneys' fees and court costs.  Under federal law, if you are able to make your current mortgage payments, the judge may order your mortgage company to accept payments on your mortgage arrearage to allow you to become current over a period of up to 24 months.  This gives most people the time needed to catch up and save their home after an illness, job layoff or other financial difficulty.

Additionally, the court will order your other creditors, such as charge cards, hospitals, or financial companies, to stop collection procedures and wait until payments have been made to your mortgage company so that you may save your home.