Can a Creditor Force me into Bankruptcy?
Posted By
Majed on Oct 22, 2010 9:10am PDT
Typically a creditor cannot force an individual into filing personal bankruptcy. On the converse, a company may be forced into bankruptcy if enough creditors get together that are owed a certain amount by the business. If you are behind on a car payment, mortgage or other loan secured by a piece of property that creditor has the right to repossess that property and/or sue you for the amount owed. That creditor does not, however, have the automatic right to force you into filing for personal bankruptcy.
Learn the facts about bankruptcy. Contact an experienced Fears | Nachawati Law Firm attorney that knows the ins and outs of debtors' rights during a bankruptcy.