When a homeowner is facing the loss of their home, they can feel devastated. Most homeowners do all they possibly can to ensure their payments are made on time. Unfortunately, unforeseen issues can arise and cause a homeowner to grow behind on their payments. As soon as they are three payments behind, the mortgage company can start the foreclosure process. Thankfully, homeowners have the right to seek legal help from chapter 13 bankruptcy attorneys in Wellington FL.
How to Get Started on the Process
To get started on the process, the homeowner first needs to schedule a consultation appointment with the Chapter 13 Bankruptcy Attorneys in Wellington FL. Chapter 13 is a type of bankruptcy that can allow homeowners to keep their homes, even if they are behind on their payments. Once the bankruptcy is in effect, all creditors are sent a cease and desist order so they are no longer able to pursue any type of collection activity, including foreclosure.
What Can Individuals Expect?
It is important individuals are prepared by knowing what to expect from the process of filing for Chapter 13. The individual filing for bankruptcy must have a reliable income coming in each month because they will be required to make payments through a restricted payment plan that is submitted to the court for approval. If approved for bankruptcy, the individual or couple will be given three to five years to pay off the debts they owe. Making their payments to the court each month will help to ensure there are no problems with the status of the bankruptcy.
The lawyer will protect their client’s rights throughout the process and help ensure there are no issues with filing the paperwork or being granted approval. It is important homeowners act quickly if there is a risk of foreclosure so the attorney can help them keep their home.
If you would like to learn more about Chapter 13, visit Koplowbankruptcy.net. Call the office today and they will be happy to schedule a consultation to help you get started on the process. Allow them to protect your rights and help you keep your home.