There is no guarantee that your credit rating will not be negatively affected.
There is no guarantee that a creditor may not still take a legal judgment against you. Although, they will not be able to use the Judgment to further their collection activity while they are included in an active 128.21 case.
It may take up to 90 days before your creditors stop their communication with you.
Your debts may be sent to an outside collection agency and reported to the credit bureau as such.
Your creditor may “Charge Off” your account and rate it negatively on your credit bureau report.
If you include a secured debt, the creditor retains their rights to their collateral.
