Charlotte Bankruptcy Lawyers
Should I borrow against my house?
It all depends on your personal circumstances. Filing either Chapter 13 bankruptcy reorganization or Chapter 7 straight bankruptcy can delay the foreclosure sale of your house. Also, when you file bankruptcy, an automatic stay stops creditors from collection efforts, including a foreclosure sale.
But your mortgage is a loan secured by your home. Filingbankruptcy won't prevent the home's eventual forced sale unless you either reinstate the mortgage by making the missing payments or pay off the mortgage by refinancing or selling the home. Before you can file bankruptcy, you should meet with a certified bankruptcy attorney to discuss your alternatives.
Borrowing money is probably not the answer either if you are in a serious debt crisis. It will only delay the process and could lead to harmful repercussions further down the road. Again the only way to make sure that your assets remain safe and to start to put your life back together is by meeting with an attorney who will give you sound advice based on bankruptcy law.
Don't be pushed into filing bankruptcy. Talk with a certified bankruptcy counselor to discuss your alternatives. Maybe the situation isn't as dire as you think.
Let Schwilm Law Firm help you. Please call for legal consultation at 704-567-5252.
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