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How bankruptcy stops your creditors: The automatic stay

After you file for bankruptcy, the automatic stay offers potent legal protection against bill collectors. When you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity. Especially if you are at risk of being evicted, being foreclosed [...]

By |2018-05-13T21:36:00+00:00April 11th, 2018|Bankruptcy|0 Comments

What is the difference between a chapter 7 and chapter 13 bankruptcy?

What exactly is bankruptcy? Will it wipe out all my debts? Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as “liquidation” (Chapter 7) or “reorganization” (Chapter 13). Under a Chapter 7 bankruptcy, you [...]

By |2018-05-13T21:36:09+00:00April 11th, 2018|Bankruptcy|0 Comments