What is the Automatic Stay?

What is the Automatic Stay?

This article is about the automatic stay in bankruptcy. This is one of the things that an individual or a company filing bankruptcy really wants, and this is the part of the law that says that on the filing of a bankruptcy petition, all collection activity has to...

What is the automatic stay?

Upon the filing of your Chapter 7  or 13 Bankruptcy, an automatic stay goes into place which means that most creditors are prohibited from taking any action to collect a debt that you owe. If a creditor tries to collect a debt in violation of the automatic stay then...