What happens if I am behind on my mortgage payments during Chapter 13 Bankruptcy?

If you are behind on your mortgage payments during Chapter 13 Bankruptcy in Florida, you can still qualify for debt relief. Chapter 13 Bankruptcy involves reorganizing your debt into one single payment plan. This plan is tailored specifically to your financial situation and is overseen by the court. Under the payment plan, you will be required to make regular monthly payments to a court-appointed trustee, who will then use the money to pay your creditors. This plan also allows you to catch up on any past due payments that you may have accumulated during bankruptcy. In addition, Chapter 13 Bankruptcy prohibits creditors from taking further action against you during the repayment period. In addition, if you are behind on your mortgage payments, Chapter 13 Bankruptcy can also help you save your home from foreclosure. In order to do so, you must make sure that your payment plan includes the arrears amount that you owe on the mortgage. Once you have caught up on the arrears, your creditors can no longer initiate foreclosure proceedings against you. Overall, Chapter 13 Bankruptcy can help you get back on track financially, even if you are behind on your mortgage payments. With the assistance of a qualified attorney and a court-approved plan, you can manage your debt and keep your home.

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What happens if I am behind on my mortgage payments during Chapter 13 Bankruptcy?

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