Bankruptcy is the strongest law in terms of debit and credit. A colleague of mine often said that bankruptcy is like an atomic bomb, nothing survives it. He explained that when you file bankruptcy, you are filing FOR bankruptcy PROTECTION. Protection from creditors. Protection from all collection from creditors.
If you are being sued for a debt collection, you can stop the lawsuit by filing bankruptcy. Many people do this. Bankruptcy is a right. Bankruptcy is found in the US Constitution, in Article 1, Clause 8, Section 4. Once you file, your creditors cannot continue collection activities, including lawsuits. Not many people knew that this ability to stop a lawsuit is one of the common benefits of filing bankruptcy.
For more information on this and other bankruptcy protections, please do not hesitate to contact us at (832) 209-8833 for a free consult. Our office is located on 10222 Gulf Freeway, Suite B-100, Houston, TX 77034.