Time Lapse in Protection from Creditors?

July 25th, 2007 by Questions

Once you\’ve met with a trustee and you\’ve signed all the documents for bankruptcy, do creditors have a certain time period whereby they can still take money out of your bank accounts to cover credit card debts before creditors are \’stayed\’? If so, how much time do they have?

Thank you.


One Response to “Time Lapse in Protection from Creditors?”

, Barton Goth GCO Bankruptcy Trustees said:

Technically speaking the creditors are stayed immediately upon filing the bankruptcy documents (the ones you signed) with the Official Receiver. This means that the creditor are prevented from taking any action.

The filing of these documents is done electronically by the trustee’s office and typically is done within a day of you signing up (some offices may be a little longer some may be a little shorter)

If you have filed your documents and are still having trouble wiith a creditor you should call you trustee and they will contact the offending creditor and take the necessary steps to resolve things.

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