Sentences with phrase «stop collection efforts»

In many instances, the creditors will simply write off the debt and stop their collection efforts.

Make sure the creditor is aware that you filed bankruptcy and ask it to stop collection efforts.

If the offending creditor will not voluntarily stop their collection efforts against you, legal action against them must be considered.

If the action of one of these creditors is relatively minor — for example, a telephone call or letter seeking payment of the debt — and they immediately stop their collection efforts when informed of the bankruptcy, then as they say in the sporting universe, «no harm, no foul.»

Once a creditor becomes aware of a filing for bankruptcy protection, it must immediately stop all collection efforts.

If you do request verification or the creditor's name and address, the collection agency has to stop their collection efforts until they've provided the information.

This may stop collection efforts, although if your spouse is jointly responsible for the loan, the debt collector may continue to seek payment from him or her.

Bankruptcy will not only stop the pending law suit, but if judgment has already been entered against you it will stop collection efforts on that judgment.

Once the proposal is accepted, all unsecured creditors are required to stop collection efforts.

Your creditors will receive a notice from the court that stops their collection efforts and dunning in approximately fifteen (15) days after you file your petition.

Filing is the action that stops collection efforts by creditors.

The filing of a Chapter 7, 13 or 11 bankruptcy petition initiates an automatic «stay» which will immediately stop collections efforts by creditors, the enforcement of judgments, or foreclosure on real property.

Not exact matches

Automatic Stay: A temporary injunction that stops most creditor collection efforts.

Second, filing bankruptcy allows Fred to quickly shut down and stops creditors from continuing litigation or other collection efforts.

When your bankruptcy is filed in court, your creditors must stop debt collection efforts.

Though collection efforts must stop and student loan lenders are required to accept payments, interest continues to build up on the unpaid balance.

Section 310 (a)(1)(viii), as amended, will ensure that before consumers sign any contracts with or make any payments to a debt relief company, they will be informed of pertinent material facts including, among other things: (i) how long it will take to settle each debt; (ii) the cost to settle each debt; (iii) that the service will not stop harassing creditor calls or other collection efforts; (iv) that results are not guaranteed, and (v) that the settlement program may adversely impact the consumer's credit rating.

According to the Department, for borrowers who are in default, ``... stopping collections means that no bills will be sent, there will be no collection efforts, and there will be no involuntary offsets or garnishments.

With offices throughout Texas (including the DFW Metroplex and North Texas), Bailey & Galyen provides experienced bankruptcy representation and sound advice about bankruptcy and how to stop harassing phone calls and collection efforts throughout Texas.

Both a Chapter 7 bankruptcy and a Chapter 13 bankruptcy can effectively stop IRS collection efforts, including penalties and interest.

Whichever bankruptcy chapter you file in Orange County bankruptcy court, you should receive the benefit of the automatic stay - a court order that puts an immediate stop for collections efforts including foreclosures, phone calls and letters.

If you would like to obtain additional information about how to use the bankruptcy laws to stop harassing phone calls and collection efforts (including garnishments and repossessions), explore your options, learn about the bankruptcy process or discuss your situation with an experienced Texas personal bankruptcy attorney, please schedule a free initial consultation by calling us toll free at 855-748-0300.

With offices throughout Texas, Bailey & Galyen provides experienced bankruptcy representation and sound advice about bankruptcy and how to stop an IRS garnishment and collection efforts.

Bankruptcy is designed to stop creditor collection efforts, including wage garnishment.