If You File Bankruptcy Can You Keep Your House

Although there are strategies to safeguard your home after declaring bankruptcy, it’s not a guarantee. The greatest way to safeguard your assets will be known to a bankruptcy attorney with experience.

Filing for bankruptcy is a big step for your finances, but most of the time, it lets you keep your home.

There are ways to keep your house safe while you’re filing for bankruptcy, but that doesn’t mean you’ll keep it.

You have to carefully consider what you owe, what you own, and how much you can afford to pay before you file for bankruptcy. Three things will help you file without losing your home:

• Which kind of bankruptcy are you going to file?
• Are your home payments up to date?
• In what amount of money do you own your home?
• Good news: filing for bankruptcy can save your home and keep it from being taken away. If you file for
• Chapter 13 bankruptcy, you can keep your home even if you are behind on payments. If you file for
• Chapter 7 and keep your home, having other bills forgiven should make it easier to pay your mortgage.

While we get into the specifics, remember that bankruptcy gives people who owe too much money a second chance. The bankruptcy courts work to make sure that doesn’t happen because bankruptcy rules were made with the idea that putting someone out on the street doesn’t help anyone.

The main idea is to keep at least a minimal level of living. People will feel some relief when they file for bankruptcy and the debt collectors stop calling them, but when the final decision is made and people know they won’t lose their home, it’s overwhelming,

There is support for keeping your home while you file for bankruptcy.

While paying off debt is a must, there is no “free house” choice that comes with it. No amount of bankruptcy can get rid of a main mortgage.

Paying your mortgage is still necessary. But, at least you can keep your home.