3 Ways Bankruptcy Can Impact The Foreclosure Process
When financial difficulties become overwhelming, individuals may consider filing for bankruptcy as a means to gain debt relief. If you're facing the possibility of foreclosure, understanding how bankruptcy can affect the process is crucial. Here are three ways in which bankruptcy can impact foreclosure proceedings.
Automatic Stay
One of the most significant benefits of filing for bankruptcy is the automatic stay. When you file for bankruptcy, an automatic stay is imposed, which halts all collection activities, including foreclosure proceedings.