Sentences with phrase «stay against your creditors»
The court will issue an automatic stay against your creditors, then appoint a trustee — an impartial person who decides how and how much debt to pay off.
http://www.betterbankruptcy.com/ Not exact matches
The bankruptcy filing stayed all creditors» actions against Kratz, though, freezing the case.
The legal term for this is «stay», meaning the creditors must «stay away» from taking legal action against you.
This stay informs creditors they may not take any action against you regarding your assets / property.
After the initiation of Chapter 7 or Chapter 13 Bankruptcy an automatic stay will stop creditor collection actions against the debtor by credit agencies.
These types of actions by creditors can appear to a bankruptcy court that they are actively trying to collect a debt against the automatic stay.
As a legal process, Canadian bankruptcy provides an immediate stay of proceeding against the actions of most creditors.
Canada bankruptcy law provides for an immediate issuing of a «stay of proceedings» which will force your creditors to cease all collection activities against you, including wage garnishments, bank account attachments, repossession activity, and phone calls or other forms of debt collection communication.
The moment a bankruptcy is fled, an automatic stay stops your creditors from taking legal action against you.
Assuming that you filed no other cases in the last 12 months, an automatic stay goes into effect, which prevents your creditors from taking any actions against you.
The automatic stay provision protects consumers against creditors from debt collector's debts from because they are not allowed to call or send you additional collection letters.
In Indiana, bankruptcy provides offers debtors a fresh start because bankruptcy protects consumers against lawsuit from creditors because filing your bankruptcy petition results in an automatic court order called an «automatic stay.»
The Trustee's discharge acts to end the «stay of proceedings» and your creditors will then be allowed to resume collection action against you.
When you file Chapter 7 or Chapter 13 bankruptcy, an automatic temporary stay will be placed on all legal collections actions your creditor may have in process against you, including a lawsuit to garnish wages.
This stay prevents your creditors from taking any collection action against you during your case.
Thanks to bankruptcy's automatic stay, creditors are prohibited from making any collection actions against you while your case is pending.
The automatic stay is a court order that freezes lawsuits, claims against your property and collections by creditor while your financial situation is sorted out.
The automatic stay, which takes effect as soon as a bankruptcy case is filed, prevents creditors from taking any collection action against the filer.
Re New Paragon Investments Ltd: [2012] BCC 371 Obtained an order recognising a creditors» voluntary liquidation under the law of Hong Kong as foreign main proceedings for the purposes of the Cross-Border Insolvency Regulations 2006 and a declaration that there was an automatic stay of proceedings against the debtor, including arbitrations.
One of the benefits of filing bankruptcy is the automatic stay that generally prevents creditors from proceeding against the debtor, the debtor's property, or property of the estate to collect a pre-filing debt.
[10] This Court has no jurisdiction to suspend the precedential value of Grant Thornton Ltd. v. Alberta Energy Regulator and introduce another legal regime — the one in place before Chief Justice Wittmann released his judgment — for the governance of other bankrupts, receivers and trustees in bankruptcy and secured creditors for a period commencing with the date of pronouncement of any stay order and ending with the date the Supreme Court of Canada either resolves an appeal against this Court's judgment or dismisses the applicants» leave - to - appeal application.
As a result of an application under the Companies» Creditors Arrangement Act (Canada), a court made an order on or before December 31, 2015 staying all proceedings taken against the employer.