if you are filing a Chapter 13 bankruptcy to save your home from a sheriff sale, the bankrupty needs to be filed before the sale date. Once the sale has happened, it is usually too late to save the home.
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Foreclosure
Filing a Chapter 13 bankruptcy can stop a foreclosure on your house.
Chapter 13 Filing Fee
The filing or for a Chapter 13 bankruptcy is $313.
Chapter 7 Filing Fee
The filing fee for a Chapter 7 bankruptcy is currently $338.
See https://www.ilnb.uscourts.gov/fee-schedule
Bankruptcy Discharge
The bankruptcy discharge will wipe out certain debts. To see what kinds of debts will be wiped out, see this link:
Mortgage Modification
Are you behind on your mortgage payments? You can call your mortgage company and see if they have any loan modification programs available.
Child Support and Bankruptcy
Certain debts will not go away in a bankruptcy. Child support is one of these.
Bankruptcy Court website
Here is the link to the bankruptcy court for most of the Chicagoland area: https://www.ilnb.uscourts.gov/
Car Repossession
Bankruptcy can be a way to prevent a car repossession, as long as you still have the car.
Payment History
Your payment history is a big part of your credit score. It counts for more than a third of your credit score. If you are late on payments for credit cards, department store credit cards, car loans and mortgages, this will bring down your credit score.
