Stay of Procedings

July 20th, 2011 by Questions

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

Thank you

Posted from: Ontario


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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)