Chapter 13 Bankruptcy & Foreclosure
Protecting Your Home from Creditors
At Wadhwani & Shanfeld, we are passionate about helping our clients
overcome their financial instability. If you are interested in protecting
your home from foreclosure under
Chapter 13 bankruptcy, we encourage you to call our accomplished team of Southern California
bankruptcy attorneys as soon as possible. We aim to deliver customized
solutions to help you keep one of your most valuable assets.
Allow us to help you move forward with confidence.
Discuss your options in a
free case review!
How can Chapter 13 bankruptcy help me prevent foreclosure?
The state of California has the second-highest foreclosure rate in the
nation — coming in just behind the state of Florida with more than
79,370 homes foreclosed on between April 2012 and 2013. If you are facing
a mortgage crisis, it is important to talk to an attorney as soon as possible.
Under Chapter 13 bankruptcy, you can save your home from foreclosure by
reorganizing your mortgage debt and repaying your delinquent payments
over an extended period of time.
Other ways Chapter 13 bankruptcy can help protect your home:
- The moment you file for Chapter 13 bankruptcy, the court issues an "automatic
stay," which immediately prevents creditors from collecting any debt,
even halting foreclosure sales.
- You may be able to eliminate your second mortgage and treat it as unsecured debt
Filing under Chapter 13 gives those struggling with serious debt a chance
to keep their homes and to repay high-priced mortgages strategically.
In addition, filing Chapter 13 could allow you to discharge other debts
or pay a fraction of some, giving you increased financial flexibility.
However, Chapter 13 bankruptcy may not be the right choice for everyone.
There are limits to the amount of debt a filer can have.
As of April 1, 2016, eligible filers cannot have unsecured debt exceeding
$394,725 or secured debt exceeding $1,184,200.
Take the First Step: Call Our Southern California Bankruptcy Lawyers
has more than 15,000 satisfied clients and over 40 years of collective experience. We are committed to our clients
and we work hard to pursue optimal results using strategies tailored for
Call Wadhwani & Shanfeld today to discuss your case with a team that is prepared to help you protect
your home and plan a financially responsible future.
We have offices in Sherman Oaks, Ontario, Long Beach, Los Angeles, and
Video Center: Get More Information About Foreclosure