How Bankruptcy Can Prevent Creditors From Harassing You

By Author: Nick Adama
Total Articles: 197
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If you are having financial stresses and sliding behind on some of your bills and credit cards payments you may have found yourself hitting that ignore button on your phones quite often. As soon as you are past 30 days late on any kind of payment you are going to find creditors calling and harassing you at at any time of day.

This can be very annoying, especially when you are checking a voicemail just to find a machine saying to call back this very important number. If you are in financial mess and stressed out all ready the last thing you need is steady harassment from creditors at all hours of the day and night.

If you are in severe financial trouble you may find that you have even more predicaments then just harassing phone calls, you may find yourself in foreclosure or your utilities being turned off, or even your car reposed. You may even find yourself being served a lawsuit by a creditor who wants their money right away.

All this can be very overwhelming, especially when you are trying to get your finances in order. When it all becomes too much and you know that catching up on all the bills ...
... is not going to happen, it may be time to check out bankruptcy. Millions of Americans turn to bankruptcy everyday, to help them out of financial stresses.

Bankruptcy automatic stay
When your file for bankruptcy you get what is known as the automatic stay, this is where the harassment from creditors will have to stop without delay by law. Also any lawsuits filed against you must be stopped as well. The automatic stay is there to give you some space from the steady harassment, so you can get your finances worked out, or in a more handy position.

Save your home from foreclosure with bankruptcy
You can apply for either chapter 7 or chapter 13 bankruptcy either one will give you the automatic stay. Now if you are trying to avoid foreclosure use chapter 13, it can be quite useful in that situation. The automatic stay will momentarily stop the foreclosure proceedings as well.

Prevent having your utilities disconnected with bankruptcy
The automatic stay can also help you if utility companies have threatened to disconnected your water, electric, telephone or gas. When you file for bankruptcy, the disconnection is at least prevented for 20 days. When the bankruptcy goes through, most utility debts will be discharged all together.

Bankruptcy and Eviction
If you landlord has been threatening to evict you the automatic stay may just help you stay in your apartment. Although keep in mind with the new bankruptcy laws, the landlord can evict non-payers of the rent a lot simplier now. If your landlord created a judgment of possession against, prior to you filing bankruptcy, then most likely they can evict you. Automatic stay will not guard you if you have damaged the landlord's property.

Bankruptcy can help your situation, if you are under pressure a lot on your finances and it all feels too overwhelming. There are many different rules and regulations to the whole bankruptcy process, but communicating to a bankruptcy attorney can help you sort out what choice may be right for you.
Nick writes daily articles specializing in how you can save your home from foreclosure while there is still time left before a trustee sale or eviction. Learn to defend the bank's attempts to take your home, find a reputable attorney, delay a sheriff sale or eviction, qualify for a foreclosure refinance program, and put together a reasonable alternative that will let you keep your property from being auctioned out from under your feet. Visit his site to read more about your options to avoid the loss of a house and understand more about how and why the housing market has been collapsing for several years now: http://www.yousaveforeclosure.com/