How Delay Can Destroy and Lead to Loss of Property
Over the past 35 years, we have seen how delays can destroy lives and lead to property loss.
Many people think bankruptcy completely ruins their credit. However, missed payments, foreclosure, or repossession already damage your credit score.
The Dangers of Delaying
If you own assets, acting quickly is critical. In many cases, Chapter 13 bankruptcy can help protect your property.
Recently, two potential clients approached Mr. Taieb after a sheriff sale had already taken place. At that stage, saving their property was no longer possible. He refused to take their money because he could not help them.
Even if you file Chapter 13 during the 10-day redemption period, it only buys time. The chances of saving your home remain very low. The law gives only 60 days to refinance after filing.
Most banks avoid refinancing homes already in foreclosure. This makes saving the property extremely difficult.
Too Little, Too Late
In another case, a couple ignored their notices and came to us after the sheriff sale.
We filed Chapter 13 within the redemption period. However, it was too late. No lender agreed to refinance because the sale had already occurred. The couple had strong equity in their home, but delay cost them everything.
Delays also hurt in auto loan cases. If your vehicle gets repossessed, the law makes it very difficult to recover it.
The Reality
Yes, bankruptcy impacts your credit. But if you have already missed payments, your credit is already affected.
Taking action early gives you more control and better outcomes.
Bottom Line
DON’T DELAY. CALL TAIEBLAW BEFORE IT IS TOO LATE!
If you have any questions concerning any type of bankruptcy filing, please contact TAIEBLAW at 856-235-4994 or visit our website at TAIEBLAW.COM.
Steven N. Taieb, Esq. has been a South Jersey Bankruptcy Attorney for over 35 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.
Final Thoughts
Delays in property matters do more than waste time. They can lead to lost money, missed opportunities, and even loss of ownership.
Whether you are a homeowner, investor, or builder, act quickly. Plan wisely. Seek expert advice when needed.
In property matters, delay is not just risky—it is costly.
