Declaring avoiding bankruptcy of foreclosure

If you missed one, two or even three mortgage payments and no way see catch up may be concerned about losing your home. If a mortgage cannot guarantee payment company, it can retrieve the House and sell to someone else. To avoid that Parliament can exclude to reimburse you file Chapter 13 bankruptcy, which can offer time so that you can reorganize your debt and your creditors.Difficulty: ChallengingInstructionsThings ll need: recordsCalculator1Seek financial advice credit. She get credit counseling from a body which approved the U.S. trustee for 180 days of filing your application by the Office. Need a certification of completion of the credit advice must be filed with the bankruptcy court will receive. To receive credit soon as possible to avoid your petition denied bankruptcy advice. Time is critical if a bank considering your your chapter 13 petition home. 2File lock from bankruptcy in the service of your neighborhood. Schedules of your income, assets, expenditure and debt. You must also filing fee for the previous year and provide proof that you have filed tax returns for the last four years. After you have submitted your petition, automatic suspension is effective, which means that the mortgage company can take your House. The journey takes as long as your hard case, bankruptcy can three to five years or until your case for rejected non payment. Plan a repayment 3Propose. Shortly after the application must propose a plan for the submission to the Court of justice. The plan must provide back mortgage payments and the list of other debts. A trustee will vote ernanntRe case by the Court of justice. It represents the interests of creditorscan object, and the plan for your creditors. Bankruptcy judge has the discretion to accept or regular repayments revisions. 4Make request plan. Even if you back refund will be provided for payments mortgage with Plun, you still have come mortgage payments due. 5Make to make all monthly plan payments in a timely manner. Make a monthly payment to the trustee in bankruptcy, the payment for each distributed your creditors. Because missed mortgage payments in the reimbursement plan, make the monthly payments, the required to meet the conditions for repayment of the mortgage. To prevent your House is statute-barred and finally have chapter 13, your case, payments for a period of three to five years plan all you run. The length of the level is determined by your income.If debtor lack plan payments or regular repayments, the mortgage company can on his house block. The House can be sold in one to three months depending on the State where the debtor is located. The process could be longer if the debtor be challenged actions.