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Posted On: December 13, 2010 by Scott Sagaria

Foreclosure and Bankruptcy Overview

A San Jose bankruptcy attorney writes about foreclosures.

For those that may be on the verge of losing their homes, foreclosure and bankruptcy, although neither being desirable, are two options. Filing for bankruptcy may temporarily block creditors from taking any action. A chapter 7 bankruptcy allows the court to discharge most, if not all of your debts, but the bankruptcy trustee can take your property and recoup the loss for creditors. A chapter 13 bankruptcy will facilitate a restructuring that will allow you to make a deal with a mortgage company and possibly keep your home.

There are some cons to filing for bankruptcy though. It will be on your record for 10 years and there is still the possibility that the foreclosure may occur anyway. However, those that are facing both foreclosure and bankruptcy, the end result may not end up being as bad as it would initially seem. Filing for bankruptcy may allow you to save your home.

Please do not hesitate to contact us at our San Jose office by calling 408.279.2288 or 1800.941.6730 for your debt resolution needs. You can receive a free consultation over the phone, or request a free in person appointment at a Sagaria Law office nearest you. Please visit our website at www.sagarialaw.com and fill out a free online evaluation form to determine if you are a qualified candidate for bankruptcy. Sagaria Law's team of bankruptcy lawyers, bankruptcy client care specialists and bankruptcy staff at San Jose can assist you with all aspects of your bankruptcy case. We at Sagaria Law can assist you regarding filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. and we are happy to help! Our bankruptcy attorneys located throughout California and Oregon can assist you with your bankruptcy questions.

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