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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foeclosure/Bankruptcy situation Posted by Ward-CA- on April 30, 2002 at 6:09 PM In Reply to: Foeclosure/Bankruptcy situation posted by Rick on April 29, 2002 at 1:16 PM : While door knocking and phoning people in default, I have run up against a very high percentage of people that will or have already claimed bankruptcy. : 1. Practically speaking, what happens to these people that file? Do they get to keep their house? For how long? How much does it cost them? : 2. How should I deal with these people...both before they file, and after? : 3. Does anyone have an example of an emotionally charged leave-behind designed to convince owners that selling is more in their interest than filing a bk? : Thanks for your help, : Rick =========================== Rick, Filing a bankruptcy is a temporary stop-gap measure. It puts the brakes on a speeding foreclosure. 1. The bankruptcy, while in place, prevents the lender from proceeding with their foreclosure. Filing costs for a Chapter 13 are $185.00. 2. Stay on cordial terms because sooner or later they will be discharged from bankruptcy. So check back with them on a regular basis. 3. Often times they need to file an emergency petition in Chapter 13 to get the time necessary to stitch together a sale to you rather than do nothing and lose their property.. Follow Ups: hoodia Harry Juna 7:42 PM, 02/03/05 (0) Re: Foeclosure/Bankruptcy situation Larry Agner 11:56 AM, 11/08/03 (1) Re: Foeclosure/Bankruptcy situation toni Jo Marchand 6:01 PM, 08/15/05 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : While door knocking and phoning people in default, I have run up against a very high percentage of people that will or have already claimed bankruptcy. : : 1. Practically speaking, what happens to these people that file? Do they get to keep their house? For how long? How much does it cost them? : : 2. How should I deal with these people...both before they file, and after? : : 3. Does anyone have an example of an emotionally charged leave-behind designed to convince owners that selling is more in their interest than filing a bk? : : Thanks for your help, : : Rick : =========================== : Rick, : Filing a bankruptcy is a temporary stop-gap measure. It puts the brakes on a speeding foreclosure. : 1. The bankruptcy, while in place, prevents the lender from proceeding with their foreclosure. Filing costs for a Chapter 13 are $185.00. : 2. Stay on cordial terms because sooner or later they will be discharged from bankruptcy. So check back with them on a regular basis. : 3. Often times they need to file an emergency petition in Chapter 13 to get the time necessary to stitch together a sale to you rather than do nothing and lose their property.. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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