Can Bankruptcy Stop a Foreclosure in West Virginia?

bankruptcyThere are few places in the United States that have been affected by foreclosures like Martinsburg and the Eastern Panhandle of West Virginia. As a bankruptcy lawyer, I’ve met with many clients who were on the verge of losing their homes. Thankfully, I’ve been able to help many of them.

Like all collection actions, a foreclosure must be stopped when a bankruptcy has been filed. Upon filing a bankruptcy, a consumer is automatically protected from any attempts by a creditor to collect a debt. This protection is called the “Automatic Stay” and it is one the most beneficial aspects of filing a bankruptcy. It is designed to give you a “time out” from debt collectors and to allow you to figure out the best way for dealing with your debts.

In West Virginia, foreclosures sales are conducted by a trustee. The trustee is usually an attorney who has been appointed by the bank to sell the property to the highest bidder. Consumers are required to be notified of the sale and the trustee is required to publish the sale date and time in the local newspaper. These sales usually take place on the steps of the courthouse.

If you are trying to save your home from foreclosure or if you need more time to determine if keeping your home is feasible, then you can file a bankruptcy to stop the sale.
However, for the sake of your lawyer and your own stress level don’t wait until the last minute to call for help with a foreclosure. Even if you don’t end up needing to file bankruptcy, it’s always best to know your options ahead of time and plan accordingly. At Hinkle Law our consultations are always free so there is no risk in finding out your options.