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Will Filing for Bankruptcy Stop Foreclosure?

Helping Me, That's HNB

Will Filing for Bankruptcy Stop Foreclosure?

The bank is moving to foreclose on your home, and you’re anxiously looking for ways out of this mess.

You wonder whether filing for bankruptcy will stop the foreclosure.

It can—but it has consequences.

You need a full review of all the options available to you so you don’t make a decision you’ll later regret.

Your goal is to solve your current problems and protect your financial future.

Talk to a foreclosure defense lawyer from the Horenstein, Nicholson & Blumenthal law firm. We’ll help you determine whether filing for bankruptcy will stop your foreclosure.

These are hard choices. Our goal is to help you get back to living your life.

In Ohio, all you need to know is this: “Helping me, that’s HNB.”

Talk to HNB 



When Can Bankruptcy Stop Foreclosure?

When you’re up against a home foreclosure, you might hear about two major types of bankruptcy:

  • Chapter 7 Bankruptcy—where your qualifying assets are sold to pay creditors
  • Chapter 13 Bankruptcy—where you restructure your debt and enter a new payment plan as long as you have income to support the plan

Chapter 7 bankruptcy can delay a home foreclosure but not stop it.

A potential benefit of Chapter 7 is that it can spare you from having to pay any portion of your mortgage that exceeds the sale value of your home.

Chapter 13 can stop a home foreclosure—but leave you with expensive payments and damage to your credit report.

You have to weigh your priorities. Is saving your home your top goal? Or could you be satisfied walking away and moving on?

You don’t have to figure it all out on your own. You can get the attorneys at HNB to look at your situation and give you an honest assessment of your choices. If needed, an HNB lawyer can refer you to a highly qualified bankruptcy attorney.

HNB doesn’t represent mortgage companies, banks, insurance companies, or any other companies. We serve individual people in Ohio.

Our initial case review is free.

Get My Free Case Review 
A couple sits on a couch, looking at paperwork. An HNB attorney can help you understand how filing for bankruptcy affects your home foreclosure.

An HNB attorney can help you understand how filing for bankruptcy affects your home foreclosure.

Your Alternatives to Bankruptcy

Bankruptcy has some serious long-term consequences. It can put your finances under scrutiny in court for years. The scars on your credit rating can limit what you do in the future.

Once you declare bankruptcy, you lose a lot of other options for solving your foreclosure problem.

You should always see if there are other ways to address the situation before you jump to bankruptcy. Those could include:

Having your mortgage lender turn against you is scary. But you can fight back. 

No matter what path you take to grapple with foreclosure—bankruptcy or other approaches—the bottom line for HNB is that we want to see you reach better times.

Call HNB Now! 
A woman talks to a man in a suit at a laptop computer by an office window. Talk to an HNB attorney to see how you can end your foreclosure ordeal without filing for bankruptcy.

Talk to an HNB attorney to see how you can end your foreclosure ordeal without filing for bankruptcy.