Will a chapter 13 bankruptcy stop a foreclosure or repossession?


Yes. In fact, chapter 13 is the ideal vehicle to save your home from an impending foreclosure or a car from repossession. Not only will a chapter 13 bankruptcy stop the foreclosure or imminent repossession (assuming timely notice is provided to the secured lender), but it will allow you up to bring your mortgage or car payments current. If you have received a notice of foreclosure or fear repossession of your car, you should give serious consideration to filing a chapter 13 bankruptcy petition.