What are the government requirements to obtain a Chapter 7 bankruptcy?
By filing bankruptcy, you can end: • Credit Card Debt, Medical Bills, Personal Loans and some taxes • Evictions, Foreclosure, Repossessions and Lawsuits • Wage Garnishments and Bank Attachments • Harassing Telephone Calls and letters from debt collectors When a debtor files for bankruptcy under Chapter 7, the Bankruptcy Court imposes an automatic stay on the bankruptcy estate. An automatic stay prevents creditors from attempting to foreclose or repossess any property or to collect on the debt without seeking the permission of the Bankruptcy Court. Additionally, an automatic stay prevents creditors from making collection phone calls or initiating any lawsuits against the debtor. The automatic stay remains in place until 1) the judge lifts the stay at the request of a creditor, 2) the debt is discharged, or 3) the property in question is no longer part of the bankruptcy estate.
