Yes – in many cases.
Bankruptcy is a very smart choice for most individuals who are having trouble with too much debt. It is a government sanctioned program designed to help you while giving you every protection available under the law.
One benefit of filing for Chapter 13 bankruptcy is that it can stop foreclosure. Chapter 13 bankruptcy can even stop a foreclosure on the night before it is scheduled to happen.
Each foreclosure situation is different, so speaking to a New Jersey bankruptcy lawyer is the best way to determine if filing for bankruptcy is the best way for you to prevent foreclosure of your home. Chapter 13 bankruptcy is designed to help you reorganize your finances, and in the process can help stop a scheduled foreclosure.