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Bankruptcy

Manos Legal Services > Bankruptcy (Page 9)

What is the Automatic Stay and Who Does it Protect?

[ad_1] The Automatic Stay is an order entered by the federal bankruptcy court directing that all debt collection actions against a debtor that has filed for bankruptcy protection stop.  In most bankruptcies, the stay ordered is entered automatically by the court clerk when the case is filed.  There are some statutory exceptions that apply in the event of repeat filings. The automatic stay is authorized by 11 USC §362, a section of the bankruptcy code that details its provisions.  This important statute prevents the taking of just about any type of action that improves or advances the position of a creditor...

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Are We Seeing a Return to Debtors’ Prisons?

[ad_1] Some time ago, I posted a video on my YouTube channel posing the question “Can I Go to Jail for Not Paying Credit Card Debt?” The answer to this question is “no” – if you don’t pay your credit card bill, the lender bank can sue you for money damages, but they have not power to throw you in jail. Only the state or federal government has the power to incarcerate you for not paying debts and the type of debts that could result in jail time include unpaid such obligations as past tax debt, fines due to governmental units,...

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