DP Thailand Blog

bankruptcy to stop foreclosure is a legal process whereby a person who can not pay their obligations can only be relieved from paying some or all of their debts and get a fresh start. The right to file for bankruptcy in the United States and its territories is provided in the law passed by Congress in 2005 known as the Law on Bankruptcy Abuse Prevention and Consumer Protection ( “Bankruptcy Abuse Prevention and Consumer Protection Act) . All bankruptcy cases are handled in bankruptcy courts that operate as units within the federal courts. The filing of a bankruptcy immediately stops collection efforts by creditors.