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When Can I Stop Paying my Creditors in a Bankruptcy?

The first thing that you want to happen with your bankruptcy is to have your creditors leave you alone. This is usually one of the first questions that an individual will ask their bankruptcy attorney. Once you have gone through with your bankruptcy filing generally you can stop paying your creditors. This is only applicable to those that you will be able to discharge in your bankruptcy.

Creditor Cautions

Your bankruptcy attorney can guide and assist you through the entire bankruptcy process including whether you can stop paying your creditors. Normally you are safe to do so with unsecured credits like your credit card providers.

You do not want to stop payments on your mortgage if you are intending on keeping up with the mortgage. The same applies to your vehicle if you are going to keep it. Also keep in mind that your student loans are not likely going to be discharged in your bankruptcy so you want to keep up with your payments on these.

If you do not keep up the payments on those bills that will not be included in your bankruptcy then you risk them taking legal action against you. As soon as you decide to file for bankruptcy you are really not supposed to use your credit cards any longer. It is not good to have a pattern of too much spending prior to your bankruptcy. With these types of debts you are most likely safe to stop your payments on debts such as these but again be sure to follow the advice of your New Albany bankruptcy lawyer.

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