July 20th, 2011 by Questions
I would like to know what a stay of procedings is?
Posted from: Ontario
July 20, 2011 at 7:12 pm, 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.
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