Saving Your Property after Bankruptcy Dismissal
Often people will think a case dismissal is the end of the road for saving their property. In reality there are still several options at your disposal to get your property protected. The time period that you have to work with is much smaller when the property you are trying to save is a vehicle.
Car creditors move quickly and do not need to provide any particular documentation to let you know that they are coming to repossess the vehicle. You will have a little more time if you are trying to save a home due to the fact that mortgage companies must serve notice to you that there will be a foreclosure. They must provide the notice to the homeowner within a certain number of days prior to the foreclosure.
The first option one should consider after their case is dismissed is to contact your creditor directly and see if they are willing to enter into any type of repayment plan, loan modification, or forbearance agreement. In the event they are not willing to work with you then you should consider seeking bankruptcy protection again. You would need to contact your bankruptcy attorney and tell them that you would like to refile.
If you were dismissed for non-payment and have since been able to gather the necessary funds then you may reinstate your Chapter 13. If you have not been able to come up with the money then you also have the option to surrender property and reinstate your case to convert to a Chapter 7.
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