Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
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You cannot file bankruptcy on just one loan. If you were to file bankruptcy, it would affect all of your financial concerns. However, if you have deals worked out with all of the other lenders, if you were to file, you could likely just incorporate those agreements into your chapter 13 plan of reorganization along with whatever you can work out with the current lender.
Thus, it is possible to keep the lender from foreclosing by filing chapter 13, but you
would have to then repay all of your debts through the bankruptcy repayment plan.