Foreclosures across the nation have been creeping up every year.<\/p>\n
Even though the economy is beginning to show some signs of recovery, there are still many people in debt over their heads. This will likely still be the case for the better part of this year and into the next. In 2010 alone, there were close to 1.2 million bank repossessions, leaving many without their homes. The more foreclosures, the more bankruptcies, as these two things go hand in hand; filing for bankruptcy is just about the only thing a debtor can do to save their home, or buy some time to manage their situation.<\/p>\n
The minute you file for bankruptcy protection, the court orders all collection actions to stop immediately. This is referred to as an \u201cautomatic stay,\u201d and is applicable to all kinds of bankruptcy filings. The stay simply means that it puts a halt to just about all lawsuits (though (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Foreclosures across the nation have been creeping up every year. Even though the economy is beginning to show some signs of recovery, there are still many people in debt over their heads. This will likely still be the case for…<\/span><\/p>\n