LEGAL GUIDE
Written by attorney Richard James Symmes | Oct 9, 2016

How Does the Bankruptcy Process Work?

If you have received threatening phone calls and letters from debt collectors or have been served with a summons and complaint related to debt collections, your most significant asset may be your current income and/or future earnings. Filing for bankruptcy will prevent creditors from garnishing your future wages as soon as your petition is filed, even if the creditor has taken legal action against you. Additionally, filing for bankruptcy will delay or completely stop any foreclosure actions being taken on your home while possibly making you eligible to strip a second mortgage and discharge that debt entirely.

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