Definition of bankruptcy protection

Bankruptcy signed in protection is a key benefit to a debtor in bankruptcy filing. It is automatically, or stops, creditors continue any fundraising activity and can time for your financial situation through the bankruptcy process to improve. Automatic StayThe "Bankruptcy" refers to the automatic stay, if you bankruptcy.Collection file ActivityBankruptcy protection stops all creditors fundraising activities, as automatic ForeclosureThe stop harassment phone calls and letters.repossessions also remain possession and lock on your secure property.Bankruptcy protection procedure ends where rest stops affair EndsThe automatic protection if the case is completed or dismissed.Monetary AwardIf of a creditor protection bankruptcy injured, the debtor may claim to a monetary reward. First, a letter of request is sent to the creditors to explain the violation and then an opponent instance can be stored.