But at what point of the foreclosure process can I still folder ruin?
Is it too late to wallet for Chapter 7 bankruptcy if I already get the Notice of Default? or do I still have time after the NOD? State is California.
Answers: You can directory a Chapter 7 bankruptcy at any time, up to and after the foreclosure. A Chapter 7 does not include the house debt; it individual discharges unsecured debt (credit cards, personal loans, etc.). The Chapter 7 will have zilch to do with stopping the foreclosure process on your house.
If you are thinking something like filing Chapter 13, you can also wallet this before or after the foreclosure have gone through. It can be used a few days before the sheriff Dutch auction of the house to delay the auction to hand over you a chance to work out a clearing plan with the lender. But a Chapter 13 is the solitary bankruptcy type that will put the foreclosure process on hold. It can be done any before or after the Notice of Default.
It can be done previously or after the sheriff sale, but if it is done after the sheriff Dutch auction, it will not include the house. That is because the auction will transfer ownership of the house, and you can't include contained by bankruptcy an asset that you no longer own.
Bottom splash: Chapter 7 won't help you deferment foreclosure. Chapter 13 will delay the process, but singular if done before the sheriff Dutch auction.
Good luck.
ForeclosureFish
You still have time. Until the dune actually seize your house, you can still get out. You're within pre-foreclosure stage.
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Answers: You can directory a Chapter 7 bankruptcy at any time, up to and after the foreclosure. A Chapter 7 does not include the house debt; it individual discharges unsecured debt (credit cards, personal loans, etc.). The Chapter 7 will have zilch to do with stopping the foreclosure process on your house.
If you are thinking something like filing Chapter 13, you can also wallet this before or after the foreclosure have gone through. It can be used a few days before the sheriff Dutch auction of the house to delay the auction to hand over you a chance to work out a clearing plan with the lender. But a Chapter 13 is the solitary bankruptcy type that will put the foreclosure process on hold. It can be done any before or after the Notice of Default.
It can be done previously or after the sheriff sale, but if it is done after the sheriff Dutch auction, it will not include the house. That is because the auction will transfer ownership of the house, and you can't include contained by bankruptcy an asset that you no longer own.
Bottom splash: Chapter 7 won't help you deferment foreclosure. Chapter 13 will delay the process, but singular if done before the sheriff Dutch auction.
Good luck.
ForeclosureFish
You still have time. Until the dune actually seize your house, you can still get out. You're within pre-foreclosure stage.