The Tools Of Bankruptcy: An Introduction

The Tools Of Bankruptcy: An Introduction

Lenders are not concerned whether borrowers are aware of their legal rights and protections. Consumers’ ignorance is bliss as far as they are concerned. Theron Morrison and the attorneys at MLG are experienced in utilizing the tools of bankruptcy to counter the unscrupulous actions of creditors and assert the rights of Utah consumers. Theron Morrison demands that creditors respect the rights of his clients or suffer the consequences under federal and Utah law.

Title 11 of the U.S. Code contains our nation’s body of laws that regulate the bankruptcy process. Within this collection of legislative acts are various tools that bankruptcy debtors may use to combat and withstand the acts of creditors, especially when these creditors violate Title 11.

An example of a unique mechanism that helps struggling debtors start fresh or reorganize is the automatic stay.

The automatic stay is exclusive to the bankruptcy process and operates as a bar between debtors and the collection efforts of creditors. The automatic stay (aka “stay”) allows debtors to avoid any type of creditor harassment or interference and direct their attention to positive efforts to solve their financial problems.

Once a debtor files a bankruptcy case, creditors, with some exceptions, must cease all collection efforts unless they have obtained court permission by “lifting” or removing the automatic stay. Under certain circumstances, creditors may remove the stay. However, Once lifted, it is removed only for that specific creditor, not all creditors.

The founding fathers and framers of the U.S. Constitution included a provision that allowed Congress to enact legislation enabling Americans to file bankruptcy cases. This reflects the understanding that bankruptcy allows those in financial turmoil an opportunity and means to gain a fresh start. The use of bankruptcy as a financial tool is anything but an unreasonable act.

The federal bankruptcy law provides benefits that do not exist in any other scenario or circumstance. Theron Morrison and any Morrison Law Group may attorney may explain how these tools and others help bankruptcy debtors solve financial problems and move forward in a positive direction. Talk to the Morrison Law Group about your Chapter 7 or Chapter 13 bankruptcy options. Call 801.456.9933 today to schedule a FREE consultation. We are Utah’s only statewide bankruptcy law firm and have locations in Ogden, Logan, Sandy, and St. George to serve the residents of the counties of Weber, Cache, Salt Lake, Utah, Morgan, Davis, Washington, and surrounding areas.

The Tools Of Bankruptcy: An Introduction


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Theron Morrison

Utah’s top bankruptcy and consumer protection attorney.