The Effect of a Bankruptcy on a Foreclosure
THE EFFECT OF A BANKRUPTCY ON A FORECLOSURE Imminent foreclosure is what prompts many people or entities to file for bankruptcy. In general, a Chapter 7 bankruptcy will not prevent a foreclosure, but a foreclosure may be prevented by the filing of a Chapter 11 or Chapter 13 bankruptcy petition. Both Chapter 11 and Chapter 13 petitions require that the debtor have a feasible repayment plan. However, to qualify for a Chapter 11 or Chapter 13 bankruptcy, a debtor must have enoug
