The automatic stay is one of the most important aspects of the bankruptcy law. Once a petition for bankruptcy is filed by a debtor, the automatic stay is immediately in place. This means all collection activity must stop, and a creditor may be punished for ANY collection activity that occurs, even if they did not [...]
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Category Archives: Repossession
What Happens to My Car if I File Bankruptcy?
There are several issues to consider in answering this question. The most important issue is the value of your car. In most cases, you can protect your car using the allowable bankruptcy code exemptions. An exemption allows you to file for bankruptcy relief and protect some of your property. The bankruptcy courts understand you need [...]