Can Bankruptcy Stop Eviction?
If you are facing eviction, you may be able to use bankruptcy to stop the process. Bankruptcy can halt an eviction in its tracks and give you time to catch up on your rent or mortgage payments.
There are two types of bankruptcy that can stop an eviction: Chapter 7 and Chapter 13. In a Chapter 7 bankruptcy, all of your assets are sold off to pay your creditors. This includes your home. However, the sale of your home does not necessarily mean that you will be evicted. If you have equity in your home, the trustee may choose to sell it and use the proceeds to pay off your creditors. If you do not have equity in your home, the trustee may abandon the property, which means you can keep living there.
In a Chapter 13 bankruptcy, you do not have to sell any of your assets.
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