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Glossary: Automatic Stay

by Bankruptcy Attorney on November 2, 2008 · 1 comment · Posted in Automatic Stay In Bankruptcy

AUTOMATIC STAY: As soon as a bankruptcy is filed, the Bankruptcy Court enters an Order that immediately stays, or stops, all collection actions against you. This means that foreclosures, garnishments, attachments, lawsuits, collection calls and letters, and even regular monthly bills are stopped.

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