Will filing for bankruptcy suspend the forclosure process on my home?

Asked on September 6, 2014 under Bankruptcy Law, Colorado


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Yes, for at least a short time.  Filing for bankruptcy protection under Chapter 7 or chapter 13 temporarily suspends a foreclosure because the court issues what is known as an automatic stay which tells your creditors to stop doing anything against you.  However, a creditor can make a motion to lift the stay.  Also, if the lender has already filed a foreclosure notice then you could have an issue with the stay.  Please get advice from an attorney in your area with the specific facts that pertain to your case.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.