Will filing bankruptcy stop foreclosure? Yes it can. When you file a bankruptcy petition and automatic stay is granted. This day means that all creditors must stop any collection action against you. You shouldn’t wait this long, but filing a bankruptcy petition can stop foreclosure up until the date of your foreclosure sale. Filing bankruptcy should be your last option. There are other alternatives that you should exhaust first.
Posts Tagged ‘Bankruptcy Petition’
Municipality Bankruptcy Chapter 9
Thursday, June 18th, 2009Once a municipal has filed a bankruptcy petition in court, the court can choose to dismiss the filed petition. This may be due to the discovery that the petition has not being authorized by the state or it is not out of good faith. As such the court may fail to recognize the filed petition. The court in this case will begin court hearings as to why the petition has been dismissed.
