Don’t jeopardize an indispensable benefit of filing bankruptcy–immediate protection from your creditors.
A landlord can take back possession of a rental quickly if you’re endangering the rental or illegally using a controlled substance there.
Filing bankruptcy can stop an eviction, unless the landlord has already gotten a judgment of possession. Don’t wait–timing is crucial.
In spite of you filing bankruptcy, the taxing authorities can still take certain very specific actions as exceptions to the automatic stay.
Even if you file bankruptcy, certain actions can still be taken against you in divorce court, or about family law matters.
The “automatic stay” immediately stops most collection actions by most creditors when you file bankruptcy. But here are some key exceptions.
To keep possession of your property that is collateral on a secured debt, you need to give the creditor “adequate protection.”
A creditor might want to pursue your co-debtor, protect itself from violating the stay, or take some other action other than collect money.
A creditor might ask to pursue an insurance-paid claim or to finish a lawsuit determining if you incurred the debt through fraud.
Creditors sometimes have good reasons to ask for permission to finish resolving an ongoing dispute outside of bankruptcy court.
Creditors sometimes ask the bankruptcy court for permission to take certain collection action against you or the collateral. In our last blog post we talked about the “automatic stay.” It’s one of the most important benefits of filing bankruptcy. It’s certainly the fastest, going into effect immediately when you or your Louisville lawyer files your bankruptcy case. The automatic … Read More
You get immediate protection from creditor collections by filing a Chapter 7 case. Same with Chapter 13 except it protects you longer, if needed. The automatic stay is the very strong legal protection from your creditors you receive when you file a bankruptcy case. The automatic stay stops virtually all attempts by creditors to collect their debts against you, … Read More
On September 6, 2016 the parent company of 136 ITT Technical Institute branches announced that it was closing. It immediately closed all of its classroom and online instructions across the country. It canceled the academic quarter that was to start on the following Monday, September 12, leaving about 45,000 students scrambling. ITT Tech had two locations in Louisville. One’s … Read More
The Petition requesting relief and the Schedules of assets, debts, income, and expenses are the key documents filed in your bankruptcy case.