Bankruptcy and Foreclosure: Will It Save Your Home?

Quick Answer: Can Bankruptcy Help?

✅ Chapter 7: Probably not - Usually means losing your home
✅ Chapter 13: Yes - Stops foreclosure and gives 3-5 years to repay

Example:

• Like hitting pause on a video game - Gives you time to catch up

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Part 1: Chapter 13 - The "Foreclosure Stopper"

How it works:

1. You file paperwork
2. Foreclosure stops immediately
3. You make new payments for 3-5 years

✅ Pros:

• Keeps your home
• Can lower car/credit card payments too
• Stops creditor calls

❌ Cons:

• Costs $1,500-$3,500
• All extra income goes to debts
• Miss one payment = foreclosure restarts

🔗 Guide: 7 Legal Strategies to Stop Foreclosure

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Part 2: Chapter 7 - The "Fresh Start"

How it works:

1. Sell what you don't need
2. Most debts disappear in 4 months
3. But you'll likely lose the house

Best for:

• When you have more debt than income
• If renting is your only option

⚠️ Warning: Some states let you keep $10,000-$50,000 of home value

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3 Things No One Tells You

1. The "910-Day Rule"

   • Owned car less than 910 days? Must pay full loan in Chapter 13

2. The "Look-Back Period"

   • Recent credit card splurges? Those debts might not be erased

3. The "Second Chance" Rule

   • Filed before? Might have to wait 2-8 years to file again

🔗 Check this out: Foreclosure process

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Is Bankruptcy Right for You?

Choose Chapter 13 if:
☑ You have steady income
☑ You can afford some payment
☑ Keeping your home is possible

Choose Chapter 7 if:
☑ You're buried in other debts too
☑ You can't afford any payment
☑ You're okay with moving

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⚠️ Remember:

• Bankruptcy isn't "failure" - it's a legal tool
• Chapter 13 = Keep home + repay
• Chapter 7 = Clean slate + fresh start

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📥 Free Download: The Ultimate Foreclosure Survival Kit

• The Complete Guide to Foreclosure Timelines
• Foreclosure Survival Checklist
• Foreclosure Crisis Survival Guide

👉 Download The Ultimate Foreclosure Survival Kit

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If none of these options work, we may be able to buy your house.

📞 Act now - Book a 1-on-1 consultation to see if your house qualifies for our program.