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What
effect does bankruptcy filing have on creditors?
Under any type of bankruptcy, creditors are prohibited by the Bankruptcy Court from any type of collection activity, whether it be phone calls, letters, referral to a collection agency, filing of lawsuits, garnishment of wages, or repossession of property. The effect of the filing of any type of bankruptcy will be the immediate cessation of these types of collection activities. However, in the case of a Chapter 7 "straight bankruptcy," any creditor having a nondischargeable debt (student loans, tax debts, etc.) may again start collecting the debt after the bankruptcy is over. For more information about bankruptcy, please call us at 408-294-6100, or e-mail us via info@sjconsumerlaw.com. One of our attorneys will be able to answer any questions which you may have in greater detail. Please remember that the foregoing information is of a general nature, and does not constitute legal advice. The facts of each situation are unique, and we must discuss those facts with you before any advice can be given. |
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