Benefits of Foreclosure Delay During a Chapter 7 Bankruptcy

Is foreclosure the right choice? A Dallas Chapter 7 bankruptcy attorney can help you decide. When you file a Chapter 7 bankruptcy, all lenders must cease allocation of debts during the bankruptcy process. This could give you several months to figure out what you’ll do about an impending foreclosure. Use this time wisely to put yourself in a position to make your mortgage payments to stave off the foreclosure process. 

Find a Higher Salaried Job or Seek a Promotion

If you simply need to make more money, consider hitting the job market. If you can find a better-paying job, it may make meeting your mortgage payment obligations every month much easier.

If you don’t want to leave your current employer, consider speaking with a supervisor or manager about better paying opportunities within the company. This might lead to a promotion, or it may be a good way to secure more hours.

Ask for Loans from Family and Friends

You might even consider borrowing money from a friend or family member. Even a small loan may help you balance things out, so you can start making your mortgage payments and repay your friend or family member over time.

For more tips on how you can either delay or stop foreclosure, contact a Dallas Chapter 7 bankruptcy attorney at Warren & Magliaccio. A lawyer can answer your questions, guide you through the process and provide you with advice regarding how to regain control of your financial situation. Call 888-584-9614 to set up an appointment with a lawyer at Warren & Magliaccio.