Will Filing Bankruptcy Stop My Bill Collectors From Taking Action? - BANKRUPTCY

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BANKRUPTCY: Will filing bankruptcy stop my bill collectors from taking action?

Yes, When you file bankruptcy, federal law imposes an "automatic stay" which precludes your creditors from taking any action to collect debts against you including court judgements and tax debts during the pendency of the bankruptcy. For instance, if you have been served by one of your creditors to appear in court over a debt, the bankruptcy filing will stop this lawsuit.

Any wage garnishments or repossession efforts are also halted. However, once the bankruptcy is over, a creditor holding a claim that was not discharged may proceed to collect on the debt. Also, under some circumstances a secured creditor may proceed to collect on the lien he has on the filer's asset during the bankruptcy proceeding, but may only do so by filing a court motion and by getting the approval of the bankruptcy court first.

ADDITIONAL BANKRUPTCY RELATED FACTS

Bankruptcy - Commencement Of Case

How Much Am I Allowed To Keep?

What Don't I Keep?

Deadlines For Objecting To Discharge And Discharge Ability

I Went Through A Bankruptcy Last Year - Will I Ever Be Able To Get Credit Again?

When Is A Chapter 13 A Better Alternative Than A Chapter 7?

Will Filing Bankruptcy Stop My Bill Collectors From Taking Action?

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