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Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 36961
Experience:  30 years in civil, probate, real estate, elder law
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I owe a vendor $11,000 and and i got a letter from the

Customer Question

I owe a vendor $11,000 and and i got a letter from the sheriffs dept. saying there going to auction off my property on Feb 18th is there anything i can do to stop this ? this is a business with 4 employees working and i hate to see this happen and dont have the money to pay this off right now !!!
Submitted: 10 months ago.
Category: Legal
Expert:  Ray replied 10 months ago.

Thanks for your question and welcome to JA. Ray here to help you today.

The only remedy here is a bankruptcy filing.That comes with an automatic stay and it may at least prolong this.Eventually they would be able to lift the stay but it might buy you another 6 months to a year for them to do so.At this point thats really your only potential remedy since you cannot pay here.

I would strongly consider such a filing to discharge debts and stall the auction here.It would allow you a fresh start and at least put this off for awhile during the stay period.

Reference

http://www.nolo.com/legal-encyclopedia/chapter-7-13-bankruptcy-basics-29829.html

It is possible to file this yourself and save legal fees if you have too here.

Expert:  Ray replied 10 months ago.

Forms and self help.

http://www.uscourts.gov/forms/bankruptcy-forms

I appreciate the chance to help and wish you the best here.

Thanks again.

Expert:  Ray replied 10 months ago.

I would greatly appreciate if you can leave a positive rating.

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