FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Stay of Procedings

HI,
I would like to know what a stay of procedings is?

Thank you

Posted from: Ontario

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One Response to “Stay of Procedings”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

A stay of proceedings is the court protection that goes along with a bankruptcy or a consumer proposal. It is what prevents your unsecured creditors from calling you, collecting money from you, garnishing wages, charging interest etc. Essentially it provides separation between you and your creditors so that you can complete the bankruptcy or proposal process and be cleared from your debts.