Stopping a Sheriff Sale Using Chapter 13
Joliet Illinois Bankruptcy Lawyers & Attorneys
Jesse Barrientes: So, this is a good way, even at the last minute, to save your home.
David Siegel: Yes, you can wait all the way up until the sale date, which I don’t recommend, but as long as you file the Chapter 13 with our Chapter 13 bankruptcy lawyers before your home has gone to a sale –
Jesse Barrientes: Well, how are they going to know? Let’s say the sale is tomorrow. Tomorrow at noon.
David Siegel: Remember. A sale date happens at the very end of a long, protracted foreclosure process.
Jesse Barrientes: Right. After the redemption period and everything else has expired.
David Siegel: Yes, the homeowner by this time has received a summons about seven to eleven months prior.
Jesse Barrientes: Yeah, but you know what? They get that summons and you see a lot of people – it’s very strange because sometimes folks call me up for some other things and say oh yeah I’ve got a court date and okay, great. When is it? It’s tomorrow.
David Siegel: Right.
Jesse Barrientes: And you know what happens, though, sometimes they lay it around or whatever and they forget about it because they think that if they don’t pay attention to it, it’s just going to go away.
David Siegel: Right. In my experience there’s a lot of things that happen in a foreclosure case where the debtor doesn’t know exactly what’s happening. And they kind of ignore that. But the good news is that most debtors, most people who owe money, do know what a sheriff’s sale is and when they get that notice, the phones ring. Because they know sheriff’s sale, they’re going to lose their house.
Jesse Barrientes: And at that point – so if you have a little time, even if it’s a day or so, and you file that Chapter 13, they have to stop the sale.
David Siegel: That’s right. I have filed cases minutes before the house went into auction. And in those cases we were able to save the home. At least temporarily. Not in every case. Some people just can’t make a payment plan once we’ve given them the opportunity, but there are people who have saved their home on the eve of sale, even on the day of sale. And have come out unscathed through Chapter 13.
Jesse Barrientes: Well let me – this is not really digressing a little bit, I mean it’s important to because you see this all the time as well. You have folks out there who really don’t have the money for the Chapter 13 but they want to save their home. And you know, they spent all this time now. They waited out the process. They haven’t paid anything. And now they get their Chapter 13. They can’t sustain it. So what happens when you can’t sustain it? It gets dismissed, right?
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Chapter 7
What’s needed to file a Chapter 7 case?
Stay on creditors during a Chapter 7 case
Mistakes made in a Chapter 7 case
Listing creditors in a Chapter 7 case
Credit counseling classes in a Chapter 7 case
Notice to creditors in a Chapter 7 case
There is life after bankruptcy
Chapter 13
Saving your home with a Chapter 13
Stopping a sheriff sale using Chapter 13
Converting to a different chapter from Chapter 13
