Although you can inform your creditors about your intention to file bankruptcy, they may still call you and collect on a debt. If you want to legally stop your creditors from harassing you for payment, you can file for bankruptcy and get your automatic stay. Also, when you tell your creditor that you want to file, they may be more aggressive in pursuing payment, so they can enforce payment before you are granted the automatic stay.
If you are getting non-stop calls, texts, or emails from your creditors and are not capable of paying your debts off, you may think you have no options. When you consider filing for bankruptcy, you don’t need to tell your creditors. Rather, you should see a bankruptcy attorney in Hagerstown as soon as possible, so they can file the papers for you. When your petition is filed, you will get your stay and won’t get aggressive calls from your creditors.
What to Expect When You Tell Your Creditors You are Filing
If you think you can make your creditors stop calling you when you notify them of your intentions, think again. The only way you can stop them is to file for an automatic stay by filing for bankruptcy. With the automatic stay, creditors are prohibited from collecting on debts your bankruptcy filing listed. This takes effect right after you filed your bankruptcy papers.
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To make sure you don’t end up pushing your creditors to act more aggressively, you can meet with a lawyer to write to them. The letter should request creditors to stop contacting you. But, this may still not stop them from collecting on your debts. This means that they can still sue you to seek judgment against you for what you owe them. Visit this site: f95 zone
You Don’t Have to Threaten Your Creditors with Bankruptcy
If you want to negotiate a repayment plan with your creditors, never threaten them with bankruptcy. Rather, try to be upfront with them on how much you make every month and your payment abilities. Your creditors may work out payment arrangements with you to make you current.
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Who Should You Notify?
Although you don’t have to inform your unsecured creditors about your plan to file for bankruptcy, some parties must be notified when you wish to file. For instance, you should allow your landlord to know if you are filing and keeping the lease. You should also pay your rent on time. Your attorney can give you a list of parties you must contact to notify them about your bankruptcy plans.
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