Bankruptcy Attorney | Weik Law Office | Serving Raleigh, Durham, Cary, Chapel Hill, and Wake Forest, North Carolina

When an individual files for bankruptcy, they are given an option to reaffirm (keep) or surrender the secured debt that they have. If a house is surrendered, the deficiency on the house is discharged or eliminated in the bankruptcy.

Once a case is filed with the Court, all creditor contact must stop.  A creditor is forbidden to send you a letter, call you on the phone, leave you a voicemail message or even send you a monthly bill.

The laws are designed to protect you and the creditors can take NO further action to collect the debt.

No, it’s not too late. 

A Chapter 13 can stop a foreclosure up until the date that the auction on the house takes place.  In the past, we have stopped a foreclosure within days of the auction date.  Chapter 13 is a very powerful law.  Once the case is filed, we immediately notify the mortgage company and all foreclosure action must stop.  Of course, you should come into the office as soon as possible.

Many times, we can consolidate your mortgage arrearage and you pay it back over a three year period.  For example, a $7,000 arrearage can often be paid at only $195 per month.  You can then start making the regular monthly mortgage payments and pay only $195 per month on the arrearage.