Having the thought of a possible foreclosure on your property hanging over your head is frightening and disheartening. It can put you into a state of panic and you don’t know which way to turn.
If you are entering into a bankruptcy then it is imperative that you have the right legal representation. This creates a need for you to seek out a Bankruptcy attorney. When doing so it is most important that you choose the right one. There are many different legal requirements and aspects pertaining to bankruptcy, and you need a lawyer that has specifically chosen to practice this area of law.
When it comes to foreclosure you need a bankruptcy lawyer that is totally familiar with the Bankruptcy act. You may hate the thought of even having to consider this type of resolution, but it may be your only option. There are two important areas of the bankruptcy law. These are Chapters 7 and 13, and one of these may be your best option for dealing with your foreclosure issue. Knowing which is going to be the most applicable or what you qualify for is best decided by and handled by a Bankruptcy attorney.
Utilizing chapter 7 may help to stall the foreclosure for a few months, whereas chapter 13 affords the possibility of arranging for payments, which in turn stops the loss of the property.
Although you are in a serious situation with your pending foreclosure take the right action now by seeking out a reputable Texas bankruptcy attorney who can discuss your options with you, and help to counsel you on what your next step should be.