Salt Lake City Bankruptcy Lawyers

What Happens to My Home in a Chapter 13 Bankruptcy?

What happens to your home in a Chapter 13 bankruptcy case will depend greatly upon what you want to do with your home. Do you want to keep it? Are you trying to protect it from foreclosure? Are you looking to sell before it can foreclose? How much you owe on your home, what it is worth and the amount of equity you have will also affect what happens to your home in a Chapter 13 case. For example, Utah provides a homestead exemption of up to $20,000 per person in a bankruptcy case. You can protect up to $20,000 of equity in your home during bankruptcy – possibly more.

A Salt Lake City bankruptcy lawyer at the Stone Law Firm can answer your specific questions about bankruptcy and how it will affect your home. Chapter 13 may not always be the right option for everyone, but it is a way that you can put an automatic stay on foreclosure proceedings if your lender has filed a foreclosure lawsuit against you or has threatened you with foreclosure. Depending on your goals in regards to your house, we can take the appropriate action to protect your interests. Whether this is working to protect the equity you have in your home, or taking action to help stop foreclosure proceedings, we have the know-how necessary to take you through the right legal action.

At the Stone Law Firm, it is our main goal to forward your interests and help you get the fresh start you need financially. Our skilled attorneys carry this out by addressing each client’s particular concerns and then providing the dedicated representation to protect each client’s needs. We represent clients in Chapter 13 bankruptcy cases throughout all of Salt Lake City, Ogden & Provo, Utah.

Contact a Salt Lake City bankruptcy attorney at our firm today to find out more about how Chapter 13 bankruptcy my affect your home.