Bankruptcy Freeze Order

Posted on October 10, 2010

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A freeze order is a bankruptcy court order. Let’s say Mary has filed bankruptcy. After she’s filed, the court will issue a freeze order that prevents any of Mary’s creditors from attempting to collect Mary’s debts. After this order is filed, Mary will not be harassed by those she owes money to, they must come to the court and seek the money they are owed together with the other creditors.

This can prevent Mary’s house from being foreclosed on, and keep the marshals away from the door, but of course it isn’t permanent.

Sometimes this has a comical effect, as in this link in  the Times Union, where two men accused of securities fraud have their assets frozen which actually KEEPS them from paying the mortgage!

 See Axsmith.net for more details.  Christine Axsmith, Esq. is a Washington, DC – based attorney specializing in foreclosure fraud, illegal foreclosure, real estate fraud.  Her credentials can be viewed at her LinkedIn profile.  The Axsmith Law website has a wealth of information for review related to elder law and foreclosure prevention. 

Other sources of valuable information are the AARP website, the Federal Trade Commission website and the HUD website.  See Axsmith Law web site to speak to an attorney.

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