Chapter 13 bankruptcy allows you to pay off your late and unpaid payments over the length of your repayment plan (3-5 years) if you are approved. Once you file your Chapter 13 petition, the “automatic stay” will stop foreclosure proceedings. This remains in effect for the duration of your case, except for in a limited set of circumstances that requires court approval.
If you aren’t sure, schedule a free consultation with one of our bankruptcy lawyers for more information about your circumstances.