When a trial date looms, bankruptcy may look better and better to a defendant. Bankruptcy can be the emergency exit from a bad situation that is about to get worse. That’s because every bankruptcy case comes with an automatic stay . That’s a federal court injunction automatically entered when a bankruptcy case is filed, protecting the […]
Epedemic of DIY Chapter 13s to Stop Foreclosures End in Trajedy
Warning: virulent outbreak of do-it-yourself bankruptcies all around. Symptoms: panic over prospect of foreclosure Supposed remedy: file your own skeleton Chapter 13 bankruptcy to stop foreclosure Prognosis: enjoy the stay for about 2 weeks, followed by foreclosure relapse Homeowners facing foreclosure Three different would-be clients called in a 10 day period this month, to stop […]
