Collectors can be stopped dead in their tracks during a bankruptcy. Know your rights by reading what this page says about debt collection and debt collectors.
A major benefit of filing for Chapter 7 bankruptcy protection is that your creditors have to stop actions they are taking against you to recover what you owe to them. Debt collection and even foreclosures are halted immediately. It's not a good idea to go this way if you want to buy a home. Having a bankruptcy on your credit report may make it difficult to get a mortgage.
Don't get frustrated as this woman with all the bills. Seek help.
Account collectors have to stop any efforts to collect from you when they learn that you have filed for bankruptcy protection.
It may take a couple of weeks for the court where you filed your bankruptcy to mail notices to all your creditors.
If you think two weeks is not soon enough, you can have your representative call your creditors right away. If collection tactics continue, those creditors may be subject to court sanctions and attorney fees for continuing this conduct.
This may be the only time you will ever tell anyone that "you will need to speak with my lawyer" because your attorney is now in charge of dealing with creditors. This will get them off your back for a time.
Bankruptcy, stopping debt collectors is serious business. So first time home buyers may want to try credit repair if their desire is to buy a home soon. If you can't go that route, then you may want to wait a while before deciding to buy a home.
You may want to try to repair your credit yourself first. Here's some helpful tips to do Credit Repair Yourself.
There are also some alternatives you may want to investigate.
Don't hesitate to ask questions if you want further help at Have a Question. I'm not an attorney but have helped others to improve their credit and even helped those who have filed bankruptcy to get a mortgage. So go ahead....pick my brain, I'll help where I can.
Disclaimer: This information is not provided for legal advice or opinion, but is for general information only. Since laws vary from state to state, seek the help of a professional in your area for any legal advice.
Go to House Buyer Solutions Home Page.
Click on Image to Learn More
Click on Image to Learn More
Oct 15, 17 04:39 PM
Please watch this 16 minute video for "7 Great Tips for Improving Your Credit Scores." I get asked this question all the time so I made this video to help you know some great ways to improve your scor…
Sep 25, 17 06:00 PM
Looking for Mississippi Real Estate Agents? Find the best MS Real Estate Agents and Brokers listed here in this FREE directory.
Sep 25, 17 05:56 PM
If you are looking for someone who will look out for your best interests, Billy is the Realtor for you! Billy will look out for you by putting his extensive
Follow Us On Twitter