subject: Get Immediate Relief From Creditors Phone Calls When You File Bankruptcy [print this page] Though many consumers are hesitant to file for bankruptcy protection, there are situations in which doing so is the only viable option you have. If you are overdue in payments on large amounts of debt to multiple creditors, they may begin calling you repeatedly and asking you to give them money that you simply do not have.
If you find yourself in such a situation and you have no way to pay the debt you owe, you can get immediate relief from the creditors phone calls and other collection efforts by filing for bankruptcy.
Regardless of whether you file for Chapter 13 or Chapter 7 bankruptcy, the court will impose an automatic stay on all creditors. They will no longer be able to call you, send you letters, file lawsuits, or contact your friends and relatives for information about you. Instead, they will have to wait for the court to decide whether or not you must pay their debts. Even if creditors have already obtained judgments against you and used them to garnish your wages, the court will put an immediate stop to the garnishment as soon as you have filed for bankruptcy protection.
If you filed for Chapter 7 bankruptcy, your court-appointed bankruptcy trustee may take some of your assets to pay your creditors. However, you can protect your most important assets from seizure by using the bankruptcy exemptions provided by your state. In the end, the court may even discharge the debts of the creditors that have been calling you. If the debts are discharged, you will no longer be liable for them, and the creditors can never try to collect from you again. If you filed for Chapter 13 bankruptcy, the court will help you develop a payment plan to repay all of your creditors, but the phone calls will still stop.
If you believe bankruptcy may be helpful in your situation, or if you just want to learn more about the process, CreditNowUSA can help you get started. Visit CreditNowUSA.com to learn more about what bankruptcy can do for you.
For more information, go to Bankruptcy at http://www.creditnowusa.com/Bankruptcy
