Does Bankruptcy Stop a FORECLOSURE in Georgia?
A conversation with Brad Woodall and Attorney Josh Rand
Brad Woodall: Welcome back! Today, we’re answering the question: Does bankruptcy stop a foreclosure in Georgia?Josh, as an attorney, can you explain the legal aspects of this?
Josh Rand: If you haven’t filed for bankruptcy in the past 12 months, filing for bankruptcy creates an automatic stay against the foreclosure. This temporary pause gives you more time to explore options like selling the house or finding solutions within the bankruptcy process.
Brad Woodall: It’s crucial to consult with a bankruptcy attorney before taking this step. Filing bankruptcy repeatedly can have negative consequences. An attorney can help you determine if bankruptcy is the right solution for your situation.
Josh Rand: That’s right, Brad. It’s important to understand that filing for bankruptcy doesn’t eliminate your mortgage debt. You’ll still need to address that issue.
Brad Woodall: Correct. Bankruptcy is like a pause button, offering you a chance to restructure or potentially have some debts forgiven. There are different chapters of bankruptcy, so it’s essential to speak with an attorney to understand your options.
Josh Rand: Absolutely, Brad. Consulting with an attorney is key to navigating the complexities of bankruptcy.
Brad Woodall: Thanks for joining us today. We hope this answered your questions about bankruptcy and foreclosures in Georgia. If you’re interested in a fast cash offer for your property, we buy houses as-is and close quickly. Or, if you’d like to try to get top dollar, I can help you list your property as a licensed real estate agent.
Don’t hesitate to reach out if you have specific questions or want to discuss your situation. You can click the link below this video to visit our website or fill out the form on our site. We’ll be in touch as soon as possible. Thanks for watching!