Grand Lighting Co.has filed a petition for voluntary bankruptcy under Chapter 7 of the Code.Which of the following will prohibit creditors from collecting debts that Grand Lighting incurred before the petition was filed?

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An automatic stay is a provision under Chapter 7 bankruptcy that immediately halts all collection efforts against the debtor, including harassing phone calls from creditors, repossessions, and foreclosure proceedings. This provision will prevent creditors from collecting debts that Grand Lighting incurred before the petition was filed. Proof of claim is a mechanism for creditors to submit a claim for payment to the bankruptcy court. A voluntary petition is the document filed by the debtor declaring their intention to file for bankruptcy under a specific chapter of the bankruptcy code. A discharge statement refers to a court order releasing the debtor from their obligation to pay certain debts.