If a foreclosure sale has been scheduled on a property you own, and the auction date is looming, and you are thinking about filing a bankruptcy case to stop the sale, what exactly will it take to get the sale postponed?
Maybe not as much as you expected. First, I would need basic information from you: name, address, social security number and so on.
Second, I need a list of ALL your creditors. The list needs to be COMPLETE. If there are any creditors not on the list, they are going to have to be added in late, and that will cost you extra money (think $200 to $300).
Since it’s best to have a complete list, I will get your credit report, show it to you, and invite you to add any creditor you know about that isn’t on the report. Cost: $33-55.
Once I have a complete list of creditors, I will need you to complete a credit counseling session ASAP. In a pinch go here: www.DECAFnow.com . DECAF operates 24/7 and in English or Spanish. When you have completed the counseling (usually in less than an hour), they will send me the certificate I need directly.
And that’s it! I’ve stopped a foreclosure sale in less than 24 hours before, but that’s hard on the heart. Give me a few days at least and it will go as smoothly as it can!
by Doug Beaton