BANKRUPTCY UPDATES

• Las Vegas Tycoon Lists $500 Million in Debts in Bankruptcy Filing (May 15, 2012)
• Luxury Boat Builder Files for Bankruptcy in Wake of Rising Debts (May 16, 2012)
• Television Service Provider Capitol Infrastructure Files Bankruptcy (May 10, 2012)
• Potential ResCap Bankruptcy Filing Spells Trouble for Ally Financial (May 14, 2012)
• Dippin’ Dots Feeling Optimistic About its Life After Bankruptcy (May 11, 2012)

Bankruptcy Protections

The Protection of the Bankruptcy Automatic Stay

Shelter is a fundamental human need. The U.S. Courts set up the bankruptcy process as a safe haven for anyone battered by the storms of debt.

A bankruptcy filing brings the protection of the automatic stay, which is a legal order designed to stop collection efforts and silence creditors.

How Bankruptcy is Designed to Protect Assets

The automatic stay is a court order that usually takes effect right after filing for bankruptcy. This stay was designed to STOP:

• Lawsuits
• Foreclosure
• Repossession
• Wage garnishment
• Phone calls from creditors
• Letters from creditors

If you have serious debt, you may need serious protection from your creditors.

Bankruptcy can provide protection from creditors. Once you file bankruptcy, creditors are legally prevented from contacting you about the debts included in your filings. Better yet, when debt is eliminated through a bankruptcy filing, creditors can never come back and demand payment on that debt.

In fact, creditors could face legal action if they try to collect on debts after your file bankruptcy.

This kind of creditor protection can be a big relief when you've been battling with bill collectors.

Collection agencies are notorious for using threatening and harassing tactics, and even breaking the law. In the past, collection agencies have threatened people with violence, deportation and lawsuits - even when doing so is illegal.

This is one reason why so many people turn to bankruptcy for protection. They need safety and a shield against this type of treatment.

No one deserves to be threatened and harassed.

How to File for Bankruptcy Protection

You can't be expected to get your finances under control while living under a cloud of threats and harassment. Bankruptcy may provide you the protection you need to get your finances in order and regain control of your life.

Bankruptcy has different chapters to help people in different situations.

If you need to protect your house, clear credit card debt or get a grip on medical bills, bankruptcy may help.

To discuss getting bankruptcy protection, or to learn more about how the laws could help you, speak with a bankruptcy lawyer near you.

Simply complete the free form on this page and we'll connect you with a local bankruptcy lawyer right away. Or, to speak with someone anytime, 24 hours a day, call us, toll free, at 877-349-1309.

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