What is Bankruptcy?

News article from bankruptcy law

Bankruptcy is a process by which a debtor can obtain relief from his debts, through the courts.

After you declare bankruptcy, an “automatic stay” of your debts takes effect. Your creditors will be served with notice of the bankruptcy, and, after receiving notice, will be barred from taking certain actions against you while the bankruptcy is pending.

If you are contacted by a creditor after filing for bankruptcy, tell your attorney — it is important that your attorney knows not only of improper contacts, but of any possibility that a creditor was omitted from the list of creditors you submitted with your bankruptcy petition, or of the possibility that notice was not properly served.

Carolyn Secor is a Clearwater bankruptcy attorney and Clearwater foreclosure attorney serving Palm Harbor, New Port Richey, Oldsmar, Tarpon Springs, Seminole, St. Petersburg, and the Tampa Bay area.

If you would like more information on our practice, please consult our website at www.bankruptcyfortampa.com or call 727-254-1704.