JUDGE ORDERS BANK OF AMERICA TO PAY COUPLE $10K A MONTH AFTER BANKRUPTCY

 

Edwin and Michelle Ramos knew that Bankruptcy was the key to stopping their creditors from calling and harassing them all day and night.  One Judge in New York State agreed with them and to the tune of $10K a month.

 

This New York couple filed for bankruptcy and surrenered the liability associated with all of their debts including their home that had become a burden to them.  The Bankruptcy Code has a provision whereby once someone or some entitity has filed their bankruptcy petition, ALL creditor contact must STOP.  The technical term for this concept is called the automatic stay and it is under the United States Code Section 362(a). Once a debtor receives a discharge or in other words, once their case is successfully closed, those same creditors are still prohibited from contacting the individual.

 

In this case, Bank of America continued to call and mail collection letters to the Ramos family.  The Judge took a no tolerance approach and ordered the Bank to pay the couple $10K a month plus attorney fees.

 

The Lesson: Bankruptcy STOPS creditor contact and if it doesn't, they will have to PAY YOU


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