Ollie files a petition in bankruptcy.At the moment of filing

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When a person files a petition in bankruptcy, an automatic stay goes into effect, which means that creditors are not allowed to take any collection actions against the debtor or their property. This stay remains in effect until the bankruptcy case is resolved or the court lifts the stay. Debts are not automatically discharged at the moment of filing; this occurs later in the bankruptcy process if the court approves the discharge. Ollie's petition is not automatically dismissed, and their property is not immediately distributed to creditors.

Ollie Files a Petition in Bankruptcy