Nobody likes to get phone calls from collection agencies. Despite laws intended to protect consumers from harassment, most collection agencies make you very uncomfortable when theyre trying to get the money from you and will call you several times a day. If you have gotten to this point with your financial situation, its no wonder youre considering filing bankruptcy for some relief!
Sometimes, people find themselves in such a bad financial situation that theyre at risk of eviction from their apartment or foreclosing on their homes, having utilities cut off for lack of payment, or getting served with a lawsuit by a creditor who is looking for their money and tired of waiting. If there is no equity in the home to pull out and pay off the debt that has gotten out of control, many people turn to bankruptcy to alleviate the financial stress.
When you file for a bankruptcy, a magical process called the automatic stay occurs immediately. An automatic stay stops creditors from calling, and can even put an end (at least temporarily) to many other stressful issues related to not being able to pay your bills, also. Any lawsuits filed against you must be put to a stop,...
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