Legal Question in Bankruptcy in Oklahoma
My husband and I seperated last summer. Since that time I have gotten way behind in all my bills. Then in december I lost my job and didnt have one for two months. I recently got a good job. But a few days ago I received a letter that they were foreclosing on my home. Would filing banckruptcy stop the foreclosure?
1 Answer from Attorneys
Yes, bankruptcy would stop the foreclosure while the stay is in effect. If you did a chapter 7, you would need to get caught up pretty quickly or else the stay will be lifted and the foreclosure will proceed.
However, another option is a chapter 13, which would enable you to have 3-5 years to catch up on your mortgage.
I don't know enough about your situation to know what is best. Please call me for a free consultation to discuss your options.
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