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When you file for bankruptcy,
Submitted by elizabethcarlsen on
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When you file for bankruptcy,
Submitted by elizabethcarlsen on
When you file for bankruptcy, the automatic stay goes effect. The automatic stay prevents creditors from pursuing legal action against you like contacting you directly or filing new civil lawsuits against you. In addition, filing for bankruptcy may place a foreclosure on hold. However, you must file for bankruptcy in time to provide your creditors with notice of the filing, and to stop any public auction of your home. In addition, the lender can petition the bankruptcy judge to allow the foreclosure to go ahead as scheduled. Therefore, stopping a foreclosure is not guaranteed by filing for bankruptcy and you should contact a bankruptcy attorney in Illinois and explain to the attorney where you are in the foreclosure proceeding and ask whether filing for bankruptcy can help stop your foreclosure. For assistance filing for bankruptcy in Illinois, visit the Illinois Legal Aid website, http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_content&contentID=7216. In addition, read http://www.freelegalaid.com/nav/illinois/personal-bankruptcy/article/filing-bankruptcy-illinois for more information about filing for bankruptcy in Illnois.
When you file for bankruptcy, the automatic stay goes effect. The automatic stay prevents creditors from pursuing legal action against you like contacting you directly or filing new civil lawsuits against you. In addition, filing for bankruptcy may place a foreclosure on hold. However, you must file for bankruptcy in time to provide your creditors with notice of the filing, and to stop any public auction of your home. In addition, the lender can petition the bankruptcy judge to allow the foreclosure to go ahead as scheduled. Therefore, stopping a foreclosure is not guaranteed by filing for bankruptcy and you should contact a bankruptcy attorney in Illinois and explain to the attorney where you are in the foreclosure proceeding and ask whether filing for bankruptcy can help stop your foreclosure. For assistance filing for bankruptcy in Illinois, visit the Illinois Legal Aid website, http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_content&contentID=7216. In addition, read http://www.freelegalaid.com/nav/illinois/personal-bankruptcy/article/filing-bankruptcy-illinois for more information about filing for bankruptcy in Illnois.