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Part 4 Before or After Foreclosure: When should I file for Bankruptcy? The timing of when to file for bankruptcy in relation to foreclosure depends on your specific circumstances. Filing for bankruptcy before foreclosure can temporarily halt the foreclosure process due to the automatic stay. This relief might provide you with the opportunity to negotiate …

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Part 3 Lucky number 7 or Or Ms Swift’s Favorite Number 13: When contemplating bankruptcy, you’ll likely encounter Chapters 7 and 13 of the U.S. Bankruptcy Code. While both types have the potential to forestall foreclosure, they accomplish this in different ways and have different long-term effects. Chapter 7 bankruptcy, also known as a “liquidation,” …

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Part 2 Does Bankruptcy Stop Foreclosure? To dive right into the heart of the matter, yes, bankruptcy can stop foreclosure, thanks to a provision in the United States Bankruptcy Code known as the “automatic stay.” An automatic stay is like a protective shield, halting most collection activities by your creditors, including foreclosure. When you file …

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Guide to Foreclosure and Bankruptcy: When two Super Powers Collide! Part 1: The Intersection of Foreclosure and Bankruptcy: A Comprehensive Guide Hello, I am Marvin Morrison, CEO of SFALLY.com. Let’s traverse the complex network of roads that intersect foreclosure and bankruptcy, with me as your guide. The journey begins by understanding the definitions. Foreclosure is …

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