Avoiding Foreclosure In Bankruptcies
For homeowners and businesses facing bankruptcy and foreclosure, it can feel like the world is closing in around them. The prospect of losing your property is frightening for anyone, but working with experienced bankruptcy attorneys can mean the difference between giving up your home or being able to stay. The skilled attorneys at Roderick Linton Belfance, LLP, work with people exploring their financial options and have developed a track record of client success.
Since 1885, Roderick Linton Belfance, LLP, has established a reputation for excellence. Our attorneys will work with you every step of the way to help ensure you stay in your home and find a payment plan that works for you.
Choosing The Type Of Bankruptcy Best For You
When faced with foreclosure, homeowners and businesses do have options on the table. Different types of bankruptcy offer different benefits.
Chapter 7 bankruptcies entail selling a business or assets in order to repay your creditors. A benefit is that an automatic stay, or immediate halt to collections, will be put in place. That means lawsuits against you are stopped and collection agencies, government entities and creditors must halt their collection activities. It can also prevent eviction from your home and provide for some added time to resolve intricate financial matters.
For businesses in Ohio, filing Chapter 11 can mean keeping the business afloat and a reorganization of debt. It also includes an automatic stay and can allow time to restructure or renegotiate leases.
In Chapter 13 bankruptcies, past-due payments are set up on a three- or five-year repayment plan, which gives you more time to get finances in order and make your payments on time. This form of bankruptcy is usually beneficial to people who are earning income but still cannot completely avoid the threat of foreclosure.
Take Control Of Your Finances And Future
Facing foreclosure amid bankruptcy can quickly throw your life or your business operations into disorder. But there are several options to employ in order to halt or eliminate the threat of foreclosure. The attorneys at Roderick Linton Belfance, LLP, possess the skills and tenacity needed to help get you or your business through a tremendously difficult time. To set up a consultation, call our offices at 234-281-4949 or use our online contact form.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.