Postponement of Collection Activity towards Co-Signer

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The “co-debtor stay“ (or “co-signer stay”) arises when one of the debtors files for bankruptcy under chapter 13. It stops the creditor from any collection activity towards the co-debtor and continues until the bankruptcy is either closed or converted. However, the co-debtor stay does not apply to all situations. It pays to seek counsel when this issue arises.

Contact George E. Bourguignon, Jr., Esq. at (413) 746-8008, gbourguignon@bourguigonlaw.com,

or by visiting www.bourguignonlaw.com.

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Published In: Bankruptcy Updates, Business Organization Updates, General Business Updates, Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© George Bourguignon, Law Office of George E. Bourguignon, Jr. | Attorney Advertising

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