Thomas F. Miles, Attorney and Counselor at Law
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Facing foreclosure? Consider all your options

Sometimes Americans just run into bad luck. Even people who make every effort to handle their finances responsibly on occasion find themselves over their head. Maybe it was bad investments, maybe you lost your job and have been struggling to find more work or maybe it was a catastrophic illness or injury that put you in substantial debt.

Regardless of your situation, you can, at the very least, rest assured that you are not alone with your financial struggles and, despite constant bills and phone calls and threats that may be coming your way, there are options available to help get you out of your financial woes.

When you file for bankruptcy, whether it is Chapter 7 or Chapter 13, the courts will issue an Order for Relief. This will give you immediate relief from the hounding through an "automatic stay." Even if your house is scheduled for foreclosure, it will be put on hold until the bankruptcy is complete. It is still possible however that your lender attempts to lift the stay by filing a motion. The process of a bankruptcy typically takes three to four months but, even if a stay is lifted, you will likely still gain a month or two to work out an alternative. These decisions and the timing can be crucial; outside help might be a godsend.

If you are contemplating bankruptcy, it might be in your best interest to reach out to a law firm familiar with foreclosure assistance. There may be options you are not aware of or have not considered. A strong legal team will look at your situation and let you know which options are suitable based upon your specific situation and financial challenges.

Source:, "Facing Foreclosure? How Bankruptcy Can Help," Accessed June 5, 2017

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Thomas F. Miles, Attorney and Counselor at Law
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