The automatic stay prevents any creditor from collecting, enforcing repossession of collateral, or foreclosing on a mortgage. It begins with the filing of the bankruptcy petition, and ends with either dismissal or discharge of the bankruptcy.
For an excellent summary of the automatic stay visit: http://thismatter.com/money/credit/bankruptcy/automatic-stay.htm
For more information visit my website at www.alsobrooklaw.com.
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Answered on Jan 03rd, 2012 at 12:13 PM