Imagine a world in which creditors could collect from debtors at will and without rules. It would be chaos, literally. Hypothetically speaking, if I know Pete owes me 10k and I know that Pete’s business is teetering on the brink of financial ruin, and there are no rules, what am I going to do? I tell you what I am going to do. I am going to secretly find out what assets Pete owns and then I am going to quickly assert control over those assets so I can get paid my 10k plus costs. I want to do this before any of Pete’s other creditors get wind of Pete’s financial condition and take his assets- before I can get paid.

How Does The Automatic Stay Affect My Divorce & Bankruptcy In Roseville MN
Imagine a world in which creditors could collect from debtors at will and without rules. It would...