Legal Question in Real Estate Law in Missouri

The huestion whether to file bankruptcy is rarely made based upon one case. If you qualify for chapter 7 bankruptcy, you may stall the forclosure, but if you cannot make the payments, if will go forward. But, you will be immune form suit for the deficiency (difference between what it sells for on courthouse steps and what you still owe) when your debts get discharged.

If you file for Chapter 13, you may be able to stay in the house and have the loan modified. You may also lose many of your personal items, (or not) to partially pay your creditors.

There are reason not to file for bankrupcty. To determine what is best in your case, you need to meet personally with a bankruptcy attorney in your area. Many offer a free or low cost initial consultation. They can look at your home loan and other debts, compared to your assets, and advise you as to your options.

Good luck