Bankruptcy protection is made available to consumers who can’t pay their creditors or debts to help resolve the debt burden.  One of the major benefits of filing for protection under Chapter 7 is that many creditor actions are stayed or brought to a standstill.  This means that any debt collection efforts and foreclosure procedures are halted. Once a creditor or bill collector has been notified that a consumer has filed for bankruptcy protection, the bill collector or collection agency … [Read more...]