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Filing for Bankruptcy?

How long will creditors be kept at bay during Bankruptcy filing?

  • I have family members that filed for Chapter 13 (personal) Bankruptcy 2 YEARS AGO due to delays on their part in getting all of the information to the lawyer in a timely manner as to request a court date. During this time the creditors have stopped calling, but my question is: How long will they wait???? Prior to the bankruptcy, creditors were going to take their cars and any other personal items to repay the debt, but of course, that stopped once the initial bankruptcy filing began. We were also receiving collection agency phone calls LOOKING FOR THEM. That also stopped when the filing began. You will have to excuse me if I am not asking the right questions. Being that I have excellent credit and know how to handle my finances, I dont know the slightest thing about bankruptcy, and will never need to. (Can you tell I am not happy about the whole situation??). My huge concern(s) are that the collection agencies will pull out a statute or something that says "after x amount of months, and no court date, we can begin recollecting" and as a result, they will resume trying to collect their debts by repo'ing things, and harassing US for their debt.

  • Answer:

    They will wait until the stay is lifted by the court. No way to be more specific.

stnkyfer... at Yahoo! Answers Visit the source

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When a bankruptcy is filed an automatic stay goes into place that stops all collection activity. Phone calls are a form of collection activity. In a chapter 13 bankruptcy, it's possible for the automatic stay to be in place for 3-5 years. As far as their collectors contacting you: Pursuant to the Fair Debt Collection Practices Act (FDCPA), "... a collector may contact other people – but only to find out your address, your home phone number, and where you work. Collectors usually are prohibited from contacting third parties more than once."

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Your time and effort is better spent managing your own life, rather than fretting about these members of your family.

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