What should I do if my creditors are suing me? 6 Answers as of July 30, 2010

The moment that you file a temporary restraining order is issued by the court called an automatic stay, which stops all foreclosures, all collections, all creditor phone calls, all lawsuits, all filing of lawsuits, all wage garnishments, all bank levies, and so on by almost all creditors.

One client asked why he should file. He said he didn't have a job or any savings or real estate, so why bother? Then he said the old line we tell ourselves as we bury our heads in the sand: "Well they can't get blood from a turnip".

But that misses the point, your creditors can still eat the turnip. Sure your credit is bad, but if you have judgments waiting to garnish your wages when you do get a job, or to levy your bank account when you finally put something in it, then you're not going to get a bank account, and it might keep you from getting a job. Employers check your credit. So, you're stuck on the outside looking in for years.

Filing Bankruptcy stops all that. Then you only have to deal with the issues that really matter, support, taxes, catching up your car or your house, and of course, the thing we all do our best to ignore, but at some point, when you get back on your feet, you must create a savings plan.

That gives you your Fresh Start.

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Bank ruptcy will stop the law suits. You need to start as soon as possible. Feel free to contact me for more information.

If you qualify to file for Chapter 7, generally you will be able to discharge most, if not all, of your debts. However, certain debts cannot be discharged in Bankruptcy.

Please contact me if you would like to discuss further.

If you're considering filing, it sounds like a good time to do it. Yes, it would stop collection activity from your creditors.

Filing for bankruptcy may be your best option. For more information feel free to contact me.