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Stop a Foreclosure Sale Date by Filing Chapter 13 Bankruptcy


Los Angeles, CA -- (SBWIRE) -- 07/13/2015 -- There are times when life brings financial hardship. Layoffs, disabling accidents, and natural disasters can all strike without warning. Individuals, families, and companies can all face financial crisis, and during such times of crisis, it may be that a foreclosure attorney who also practices bankruptcy might be able to provide the knowledge and skill a homeowner needs to make finances workable.

While some people may feel worried about filing for bankruptcy, bankruptcy relief is often the best means of foreclosure avoidance. According to bankruptcy attorney Lauren Rode, with Consumer Action Law Group, "there are many benefits of filing for bankruptcy. Credit card debt and medical bills can be wiped out, a second mortgage can be eliminated, collection calls stop immediately, wage garnishment and repossessions can be stopped, and low credit scores usually improve after filing bankruptcy. Creditors know that an individual can only receive these benefits once every 7 years; so many people start to receive credit card offers after they file for bankruptcy."

One of the most common questions is: How does chapter 13 stop foreclosure ? There is immediate legal protection from foreclosure the moment that a bankruptcy is filed with the court. A foreclosure is automatically stopped as long as there has not been a prior bankruptcy filing in the past 12 months. While a Chapter 13 bankruptcy is active, there is absolute legal protection from a foreclosure. There must be payments made towards a payment plan in a Chapter 13, which protects the property from foreclosure for the duration of the plan. In the event that an applicant for bankruptcy seeks to avoid the foreclosure and save the home, the Chapter 13 is usually preferable.

Lauren Rode, bankruptcy attorney for Consumer Action Law Group says: "for anyone that has received a notice of trustee sale and their primary concern is to prevent the imminent foreclosure and seizure of their home, it is best to seek legal advice from a trusted los angeles bankruptcy attorney.  It is crucial to develop a Chapter 13 plan to reorganize debt repayments and forestall the loss of a home in foreclosure."

For individuals desiring to go the bankruptcy route, there is the initial step of choosing between the Chapter 7 and Chapter 13. These are two very different forms of bankruptcy and they can have radically different outcomes and consequences. Chapter 7 bankruptcy calls for the liquidation of the applicant's resources and forgiveness of qualified debts. On the other hand a Chapter 13 bankruptcy is more like a debt consolidation plan in which the applicant demonstrates that their disposable income is sufficient to repay the debt and their property may be protected for the duration of the repayment plan.

The choice between the two forms of bankruptcy relief requires careful consideration and the resulting consequences need to be understood and weighed. The importance of professional legal assistance cannot be over stated, especially when the applicant is under great financial, mental, and possibly physical stress. Different types of debt are treated differently, as there are different types of assets. To fully understand the situation, it's best to call dedicated foreclosure/bankruptcy attorneys or an attorney that focuses on bankruptcy and foreclosure. The attorneys at Consumer Action Law Group offer free consultation.

For immediate assistant, one can visit or call 818-254-8413

About Consumer Action Law Group
Consumer Action Law Group is a law firm dedicated to help consumers in consumer-related matters or consumers that experienced fraud and scam. Attorneys in the team are knowledgeable and experienced in the areas of eliminating debt, mortgages fraud, auto fraud, and foreclosures. They have direct experience in consumer fraud matters and helping consumers who are facing financial crisis, foreclosure, issues with employers, and problems with auto dealers.

For Media Inquiries:
Contact Person: Lauren Rode, Esq.
Telephone: 818-254-8413