If you are behind on your mortgage or car payments, foreclosure or repossession can feel imminent and overwhelming. The good news is that Chapter 13 bankruptcy can be a powerful legal tool to stop foreclosure and repossession while giving you time to catch up on missed payments.

For many individuals and families in Norman and throughout Oklahoma, Chapter 13 bankruptcy provides a structured, court-approved solution to regain financial stability and protect essential assets.

How Chapter 13 Bankruptcy Stops Creditor Actions

When you file for Chapter 13 bankruptcy, the court immediately issues an automatic stay. This legal protection requires creditors to stop most collection actions, including:

• Foreclosure proceedings
• Vehicle repossessions
• Wage garnishments
• Lawsuits and collection calls

The automatic stay goes into effect as soon as your case is filed, providing immediate relief and breathing room.

Stopping Foreclosure With Chapter 13 Bankruptcy

Chapter 13 bankruptcy is especially effective for homeowners who have fallen behind on mortgage payments but want to keep their home.

Through Chapter 13, you may be able to:

• Stop an active foreclosure
• Catch up on missed mortgage payments over time
• Resume regular monthly payments going forward
• Protect your home while completing a repayment plan

Missed mortgage payments are rolled into a repayment plan that typically lasts three to five years, allowing you to get current without needing to pay everything at once.

Preventing Vehicle Repossession

Chapter 13 bankruptcy can also stop vehicle repossession if you are behind on car payments. Once the case is filed, repossession efforts must pause.

Depending on your situation, Chapter 13 may allow you to:

• Catch up on past-due car payments
• Resume regular monthly payments
• Protect your vehicle while completing the repayment plan

Since reliable transportation is essential for work and daily life, this protection is one of the most valuable benefits of Chapter 13 bankruptcy.

How the Chapter 13 Repayment Plan Works

In a Chapter 13 case, the court works with you and your creditors to create a reasonable repayment plan based on your income and expenses.

Key features of a Chapter 13 repayment plan include:

• Payments made over three to five years
• Priority debts and secured arrears addressed first
• Unsecured debts often reduced or partially repaid
• Remaining qualifying unsecured debt discharged at the end

As long as you follow the approved plan, creditors must honor its terms.

Do You Need to Qualify for Chapter 13 Bankruptcy?

To file for Chapter 13 bankruptcy, you must meet certain requirements, including:

• Having regular income
• Staying within secured and unsecured debt limits
• Proposing a repayment plan in good faith

Because eligibility and plan approval can be complex, working with an experienced Chapter 13 bankruptcy attorney is critical.

Why Timing Matters

Timing is crucial when foreclosure or repossession is involved. Filing before a foreclosure sale or repossession occurs often provides the strongest protection. Delaying action may limit your options.

Speaking with a bankruptcy attorney as soon as possible helps ensure your rights are protected and deadlines are not missed.

Chapter 13 Bankruptcy Attorney in Norman, Oklahoma

Law Offices of B. David Sisson helps individuals and families in Norman and across Oklahoma use Chapter 13 bankruptcy to stop foreclosure, prevent repossession, and regain control of their finances. He works closely with clients to develop repayment plans that protect assets and provide long-term relief.