Bankruptcy Helps: Read This If You Are Facing Foreclosure

by Susanne Robicsek, North Carolina Bankruptcy Attorney

February 8, 2008

Bankruptcy may help you if you are behind in your mortgage.  You need to speak to an experienced lawyer NOW. 

  • Do not wait until the last minute to consult a lawyer. 
  • Do not listen to friends who tell you not to file.
  • Don’t listen to the mortgage company or a mortgage assistance company  – they are not on your side.

Call an experienced attorney in your area before things get worse! A good attorney will tell you if she thinks that bankruptcy will help, or if there is a better option that she can suggest.

This is the plea of a very tired bankruptcy attorney at the end of a long week, who just met with yet another client at the 11th hour at the end of the foreclosure process.

               { sigh }

Had this client come to me when the foreclosure started, I might have been able to solve the problem without too much trouble. Chapter 13 could have provided a simple and affordable solution.

There are a few things that I know of that might have helped avoid bankruptcy altogether.   At the very least, the sooner we attack the problem, the easier it is to fix.

Instead, the client came to me to try to fix a problem that was months in the making and was much worse than it needed to be.

I may still be able to help, but for this client it might be too late and this family may lose their home.

This is not the only client that came to me this week seeking help and saying that they are calling me because bankruptcy is their last resort.

                { sigh }

If you are facing foreclosure please read the following:

  • Even if filing bankruptcy is the last thing you want to do, speaking to an attorney only means you get the information to decide if this is the best choice for you.  

Why hire a lawyer?  Meeting with an attorney does not mean you are going to file.  It means you are going to get legal advice from an attorney who may, or may not, recommend bankruptcy.

If they recommend that you file and you don’t want to, you can say “No”. However, you need to know the true facts when you make your decision.

Don’t rely on friends.  If your friend tells you not to filing bankruptcy, see a lawyer anyway! Unless your friend is both a lawyer, and a lawyer with lots of bankruptcy experience, please don’t listen to what your friend says. People just don’t know the facts about bankruptcy unless they deal with it a lot, even if they are really smart.

Don’t believe your creditors.  Mortgage companies are not working for you just because they are discussing settlement. They are not your friends. You owe them money. Just because you are talking to them doesn’t mean that they are not going full steam ahead in plans to take your house.  They do not have your best interest at heart, and they do not always tell the truth.

The longer you wait to look into filing, the harder it is to fix.  You don’t want to wait until it is too late.

You don’t have to file for bankruptcy just because you look into it, but I really want to stop telling people I could have helped them if only you had come in sooner.

I can’t turn back the clock, though I wish I could.

{ sigh }

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Concentrating in Consumer Bankruptcy Law since 1988; Wake Forest Law School JD 1987 Law Office of Susanne M. Robicsek since 1993, Law Clerk to Judge Rufus Reynolds, US Bankruptcy Judge for Middle District of NC; Burns Price & Arneke, PA, David Badger and Associates, PA.

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Last modified: October 22, 2012