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If you’re a debtor and you filed for bankruptcy, your creditor must stop collecting debts from you. Here’s why.

The very purpose of bankruptcy is to give debtor a chance to start over his personal finance or business by having his/her debts “forgiven”. When you filed for bankruptcy, you essentially tell your creditors that they can’t get much from you, that you are so burdened you can’t pay them anymore.

This doesn’t mean you won’t pay anything. In fact, bankruptcy is just a settlement case between you and your creditors. While bankruptcy “forgives” you of your debts, it simultaneously help creditors to get repayment from you. Yes, you will still pay, only through a different process.

This process usually means having your assets liquidated as a form of payment to your creditors. Since that’s not something you’ll like, you can opt for a repayment plan or restructuring plan if you are eligible. These options are classified as “chapters” in the US bankruptcy law.

Either way, your creditor must stop collecting debts from you. No matter how overdue your debt is, there’s no need to pay for that – even if your creditor tries to collect debt from you – once you filed for bankruptcy.

If you are having any problem with your bankruptcy case, be sure to find a bankruptcy lawyer to help you settle this case!