First, you need to contact a bankruptcy attorney. We are not attorneys and cannot give you legal advice.

The Chapter 13 Bankruptcy is the reorganization of debt. The bankruptcy is going to buy you the time you need to get the property short sold and for us to help you out with the short sale process.

This is the strategy that I used effectively to hold the bank off for three years. You see, Bankruptcy is a Federal Law and overrides the state or local laws. Once your attorney files Chapter 13 on your behalf the Bank and the Public Trustee are powerless to enforce the mortgage and foreclose on your home. You get to stay a little while longer. Beware that Chapter 13 Bankruptcy has a very negative effect on your credit rating and your ability to finance anything for a long, long time. My situation was such that staying in my home until my children finished school was more important than my credit rating. I never regret putting the children first.

Once your Chapter 13 Bankruptcy is filed you have new obligations to the Bankruptcy Court and The Trustee. You must appear in person in Federal Court. Your attorney will present the Court with a repayment schedule that states which creditors will be paid and which ones will not. Your creditors may send a representative to protect their interests. The Court has vast powers to wipe out your debt, but only if you adhere to the long term plan.

You must agree to follow a new payment schedule. These payments must be made ON TIME and in certified funds. Your personal check or credit card are no good in the Trustee's eyes. The Chapter 13 Bankruptcy can be a solid solution in many situations. My experience is that most homeowners facing foreclosure end up using the Bankruptcy option as way to buy more time. The reality is that they just can't keep up the new strict payment schedule. The extra time allows them to save money to move and that is what they end up doing.

If you are considering using Chapter 13 Bankruptcy we recommend you speak to several bankruptcy attorney's before choosing this option. Your first consultation is free of charge. If the attorney wants to charge you before talking things over, go on to the next one. The Bankruptcy Attorney is a specialist. They all require a fee in order to work with you. Only you can decide if the cost is worth the extra time.

Call me and I will share with you my personal experience how I used this option to stay in my home for over three years. During this time my children were able to stay in their schools which was very important. If you choose this option your time is limited and you can not afford to make any mistakes.

Call me at 720-541-9991. This process is remarkable. We call it the "Bankruptcy Short Sale". It just may be the answer to your prayers.