This course discusses the basic legal principles of the Automatic Stay and how it serves to protect both debtors and creditors.
The chaotic collections environment results in a race to the courthouse during which creditors are not guaranteed an orderly distribution of the debtors’ assets. Debtors who cannot pay their debts often turn to the bankruptcy court for relief. After the bankruptcy petition is filed, the status known as the Automatic Stay goes into effect. This session discusses the basic legal principles of the Automatic Stay and how it serves to protect both debtors and creditors. It is the most fundamental and immediate benefit of filing for bankruptcy protection in that it stays, or stops, any further legal proceedings against the debtor, maintaining a financial status quo until issues between the debtors and creditors are resolved on a level playing field.
Certificate of Completion provided.
The path to learning any new area of the law takes dedication and time, but if you put your mind to it, you'll have no problem becoming one of the best. What are you waiting for?
Lakisha Lynette Bealer founded Agility Legal Solutions in 2011. Agility offers Estate Planning and Administration services in San Diego, California and virtual paralegal services to attorneys across the globe.
Ms. Bealer has over 20 years experience in the legal industry. She has worked for law firms in both California and Alabama and various financial institutions. In addition to her experience Ms. Bealer holds an Associates degree in Business/Legal Assistant Studies, a Bachelors in Business/Accounting, a Master's in Business Administration, and a Master's in Paralegal Studies. She teaches on-line CLE's for Rainmakers Legal Education and paralegal programs for the Paralegal Academy on-line and on campus in San Diego, California.