Soemtimes a creditor will file a Motion for Relief from Automatic Stay in a bankruptcy case. This commonly occurs when the debtor owns real property that he/she is planning on surrendering. The purpose of this motion is to lift the automatic stay and allow the creditor the opportunity to continue with collection, or more commonly, foreclosure. In the above instance, a lender or mortgage holder will be able to continue with the foreclosure process if the motion is granted and sell the property quicker, without having to wait for the bankruptcy process to conclude.
http://www.westmontattorneys.com
Thursday, July 26, 2012
Monday, July 2, 2012
WAGE GARNISHMENTS AND ASSIGNMENTS
Many people decide to file bankruptcy because a creditor has began garnishing their wages, which is when a court order is issued to deduct a portion of a debtor's wages in order to repay the creditor. Garnishments will be stopped immediately upon filing bankruptcy, where creditors will be immediately notified by our firm of the filing. Wage garnishments are different than wage assignments, where a debtor authorizes a creditor to deduct a payment from their wages, such as through a Pay Day Loan service. These can be stopped prior to filing bankruptcy, so if you are in these situations, please contact one of our bankruptcy attorneys today to learn more.
http://www.westmontattorneys.com
http://www.westmontattorneys.com
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