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  • Edward Hanratty

ADVANTAGES OF A CHAPTER 13 BANKRUPTCY ⁠




Chapter 13 Bankruptcy is for individuals with regular income to develop a plan to repay all or part of their debts.


How does it help?

🛑 Stop Foreclosures⁠

🛑 Stop Sheriff Sale ⁠

🛑 Stop Wage Garnishment⁠

🛑 Stop Bank Levies⁠

🛑 Stop Collection Activity ⁠

🛑 Stop Repossession ⁠

🛑 Stop Lawsuits⁠

How do they stop ❓ ⁠

By the AUTOMATIC STAY ❗❗❗❗⁠

Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against all creditors who want to start or continue taking action against a debtor or the debtor's property.⁠

As long as the stay is in effect, creditors generally may not initiate or continue lawsuits, wage garnishments, or even make telephone calls demanding payments.⁠

If creditors violate the automatic stay they can have serious repercussions ❗⁠

☎️ CALL OUR OFFICE IF YOU NEED TO PUT A STOP ON YOUR CREDITORS ❗ 732-866-6655⁠

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