Throughout the week I have been reviewing the issues covered in the Bankruptcy Basics Pamphlet, today I will present the remaining sections. The next topic covered is the Servicemembers Civil Relief Act (SCRA). The purpose of this act is to protect service members during their military service by providing for the temporary suspension of judicial and administrative proceedings and transactions that may adversely affect service members. Among other things, the SCRA allows for reduced interest on certain obligations incurred prior to military service, and default judgments against service members and rental evictions of service members and all their dependents are restricted. The SCRA applies to all members of the United States military on active duty, and to U.S. citizens serving in the military of United States allies in the prosecution of a war or military action. The provisions of the SCRA generally end when a servicemember is discharged from active duty or within ninety days of discharge, or when a servicemember dies. For more details about the SCRA refer to page 61 of the Bankruptcy Basics Pamphlet.
The following and final section covers the Securities Investor Protection Act. The act covers the case when a brokerage firm fails and investors need to be protected. The initial purpose of the act was to encourage investor confidence. For more information on this Act refer to page 65 of the Bankruptcy Basics Pamphlet.
At the end of the pamphlet is a glossary that is written in accessible language. If you are in the process of filing bankruptcy you may want to review some of these terms. They may help clarify the bankruptcy process as you progress through it.
If you have any questions and live in Denver, Aurora, Arvada, Boulder, Brighton, Broomfield, Commerce City, Englewood, Golden, Highlands Ranch, Lakewood, Lafayette, Littleton, Northglenn, Westminster, Wheat Ridge, Colorado please feel free to contact me. Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.
