In a Chapter 13 bankruptcy, you’ll make payments to the bankruptcy Trustee. These are the payments that the Trustee divides up and forwards to your creditors and it keeps you from having to make separate payments on any debts that are included in your Chapter 13 Plan (although you do separately pay whatever debts are…
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Can Bankruptcy Stop Foreclosure ?
Yes, bankruptcy will stop foreclosure. Of all the methods people pitch, bankruptcy is the only one that is guaranteed to work. The reason bankruptcy is so effective in stopping a foreclosure is because of the “Automatic Stay,” which says that all collection activity on all of your debts is automatically stopped (or “stayed”) the minute…