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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17080
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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Do both Chapter 7 and Chapter 13 bankruptcy proceedings stop

Resolved Question:

Do both Chapter 7 and Chapter 13 bankruptcy proceedings stop foreclosures and repossessions and does the sheer act of retaining an attorney for this also stop these actions?
Submitted: 4 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 4 years ago.


Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarification


Only the actual filing in Court of a chapter 7 or chapter 13 case, stops pending legal action, through the Federal automatic stay, that is issued after a bankruptcy is filed with the Court,


The retention on an attorney does not stop legal action,


If you have any further questions please do not hesitate to ask


If satisfied please press the accept button so we can receive credit

Customer: replied 4 years ago.

If I file Chapter 7 to discharge my debt, will I be able to keep my house, i.e., how do banks handle the missed payments? Or do I have to file Chapter 13?

Expert:  WALLSTREETESQ replied 4 years ago.

if you file a chapter 7 you can only keep your home, if you are current on your payments, if you are behind in payments a chapter 13 would be better, so you can

pay the arrears owed over 60 months,


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