FAST RELIEF from Debt Collectors: The Automatic Stay

What is the automatic stay? The automatic stay protects a debtor who files for bankruptcy from further collections efforts by creditors. Once the creditor has received notification the debtor has filed bankruptcy, all collection activity must cease including pending foreclosure, repossession, or wage garnishment. When does an automatic stay take effect? The automatic stay takes … Read more

What Can I Do to Avoid Going Out of Business?

Businesses often turn to bankruptcy protection to avoid going out of business. When a company files under chapter 11 to reorganize, it continues to conduct business. After bankruptcy it emerges on a more viable footing. Chapter 7 requires the company to liquidate assets to pay creditors. Through the bankruptcy process, the business eliminates debt and … Read more

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