Automatic Stay
Automatic stay is a significant benefit for homeowners in a chapter 7 bankruptcy. The automatic stay provision protects consumers against creditors from debt collector’s debts from because they are not allowed to call or send you additional collection letters.
The creditors are prevented from continuing any legal action against you, or repossess your car or other assets. And even if a garnishment order has been issued, the automatic stay stops garnishment of your wages.
« Lien Stripping Eliminates Home Equity Loans | Home | Mortgage Relief Versus Bankruptcy »
Leave a Comment