Secured with SHA-256 Encryption
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Filing for bankruptcy automatically protects the debtor by providing him with an automatic stay. An automatic stay means the debtor or debtors filing for bankruptcy are legally protected from creditors attempting to collect on what is owed to them. This automatic stay remains in effect, protecting the debtor, until the bankruptcy case is officially discharged, meaning it has gone through court and is considered official.
→ Read MoreThe defendant’s bankruptcy acts as an automatic stay of any civil lawsuit against him in every court or administrative agency. Ordinarily, the defendant’s attorney will file a Suggestion of Bankruptcy that alerts the court and other parties to this fact.
→ Read MoreA utility company may not shut off service solely because you file bankruptcy or because you owe them money at the time you file bankruptcy. However, if you or the bankruptcy trustee does not give them an adequate deposit or other assurance of payment within 20 days after filing, the Bankruptcy Code allows them to shut off service.
→ Read MoreWhen an individual files for bankruptcy, he or she is immediately put under a legal protection referred to as an automatic stay. This automatic stay means that creditors cannot attempt to collect money from the person until the discharge or dismissal of the bankruptcy takes place. A creditor does have the option of appealing to the court and requesting relief from the stay, meaning they ask to be allowed to pursue what they are owed even during the bankruptcy.
→ Read MoreMany times bankruptcy is filed in order to stop a lawsuit. Once a person or business files for bankruptcy, there will be an “automatic stay” put on the debtor’s debts. The automatic stay is a legal tool that protects the person you are suing. This means that if the debtor lists you as a creditor (and sometimes even if they don’t), you may have no legal right to collect a judgment from him, even in pending litigation.
→ Read MoreFind the right lawyer for your legal issue.
Secured with SHA-256 Encryption
