Will I Lose My House If I File for Bankruptcy in Connecticut?

If you are faced with high debt that just seems to be getting worse, bankruptcy can be a straightforward means of getting out from under that debt. If a mortgage is involved, it can be even more stressful because your home is not just an asset. It’s your security and stability for your family. You may be wondering, ‘Will I lose my house if I file for bankruptcy in Connecticut?’

If you continue to miss mortgage payments and you are in danger of foreclosure and losing your home, bankruptcy itself will not cause you to lose your home. In fact, it can be a practical method for remaining in your home. Chapter 13 bankruptcy allows you to repair your relationships with debtors, like your home mortgage bank, so that you can catch up on payments in arrears.

Connecticut bankruptcy laws have strong protections for homeowners if you qualify to file for bankruptcy to keep your home. Speak with our bankruptcy law firm to confirm your eligibility.

Bankruptcy is a tool for repairing your financial well-being by making payments in accordance with a plan you and Attorney Tim Pletter, Connecticut bankruptcy lawyer, will formulate together. He can assess your financial circumstances, examine your debt and your income, and determine a monthly payment amount that you will pay until your debts are paid off. These plans are structured in three- or five-year schedules.

Paying Off Arrearages in Bankruptcy

To file for Chapter 13 bankruptcy, you must have income and be able to afford a bankruptcy payment plan. If you cannot afford to pay your mortgage and a bankruptcy payment, this unfortunately means that you cannot afford to save your home through Chapter 13. You may delay foreclosure, but eventually, you may have to sell, do a short sale, or the foreclosure court will set a law day (deadline). A law day is your last day to save your home. Talk to Attorney Tim Pletter about your options. In 2026, property values in CT have remained high, so selling your home may be an option if you cannot afford to save your home.

When you make the final Chapter 13 payment, your unsecured debts may be discharged, and your mortgage, taxes, liens, and auto loans may be current with payments. This gives you a second chance to improve your circumstances without the burden of delinquent debt. Any arrearages you owe on your home mortgage should be paid once you complete Chapter 13 bankruptcy.

There are other legal options for stopping a foreclosure, and Attorney Tim Pletter would be happy to discuss those options with you to determine the right course of action for your unique circumstances.

Completing Your Bankruptcy Case Is Essential to Keeping Your Home

If you file for bankruptcy but do not complete one or more requirements of your bankruptcy, this can result in you potentially losing your home.

The strongest plan after filing for bankruptcy to keep your home is to complete the conditions of the bankruptcy. This will guarantee that you won’t lose your house. Some ways you can ensure you do not lose your home after filing for bankruptcy include:

• File all documents according to the Local Rules and the Bankruptcy Code. Your attorney can assist with this, as it is a complicated process that requires great attention to detail.
• Respond to attorney correspondence. While under the protection of bankruptcy, your attorney will handle communication with your creditors so you don’t have to. Your obligation is to stay in communication with your bankruptcy lawyer.
• Make your monthly payments to your bankruptcy trustee on time. This is crucial for completing the bankruptcy process successfully. If you have any reason for not being able to make your payment, communicate this to your attorney as soon as you realize it.
• Complete a bankruptcy counseling course required for your bankruptcy case from an approved provider. Completion of this course is a mandatory part of filing for bankruptcy.

Why Choose Us?

The Law Office of Ambrogio, Pletter & Associates, LLC, and bankruptcy attorney Tim Pletter have helped thousands of people like you experience the freedom of becoming debt-free. Bankruptcy is nothing to be ashamed of, and you will never feel judged by our legal team. Freedom from mortgage arrearages and foreclosure begins when you ask for help.

FAQs

What Property Do You Lose in Bankruptcy?

In the majority of bankruptcy cases, bankrupt individuals do not lose property. If they do, they are assets that are not exempt from bankruptcy. This would include high value investment accounts, but not retirement accounts, and only if they exceed state limits; recreational vehicles; collections of high-value, secondary real estate property, like rental properties or vacation homes; and high-dollar luxury items, such as jewelry.

How to Avoid Losing Your House in Bankruptcy?

To avoid losing your house in bankruptcy, speak to an experienced and knowledgeable bankruptcy attorney at Ambrogio, Pletter & Associates, LLC. They can advise you on the appropriate chapter to file and inform you of bankruptcy laws that apply to you specifically, such as homestead exemption laws that protect a certain amount of your primary residence equity. Once in bankruptcy, make your payments on time and follow through with your payment plan to avoid losing your home.

How Does Bankruptcy Affect a Homeowner?

Bankruptcy affects a homeowner depending on the type of bankruptcy they file. This and their specific financial details will determine if they can keep their home while managing mortgage debt. Financial details, such as the amount of equity in the home that the homeowner has and the ability of the homeowner to earn wages and make payments toward their debt, will impact the way the homeowner will be able to move forward in the wake of debt repayment.

Speak to a Bankruptcy Lawyer With Experience Helping People Get Free of Debt

Attorney Tim Pletter at the Law Office of Ambrogio, Pletter & Associates, LLC, can provide you with the resources and legal advice you need to file for bankruptcy and keep your home. In addition, we will lead you through bankruptcy. Contact our office and make an appointment to meet with us and start the journey to get out from under creditors and become debt-free.