Are you overwhelmed by debt and tired of relentless calls from creditors? Filing for bankruptcy could be your answer! Filing for bankruptcy activates a powerful legal protection known as the Automatic Stay. This “stay” works like a protective shield, immediately stopping most creditor actions against you the moment you file for bankruptcy.
What Does the Automatic Stay Cover?
Once the Automatic Stay is in place, almost all debt collection efforts against you must stop, including:
- No More Collection Calls: Creditors are legally barred from calling or harassing you for payments.
- Stopping Foreclosures and Repossessions: Protect your home, car, and other essential assets from being taken.
- Halting Wage Garnishments and Tax Levies: Preserve more of your income so you can manage your basic needs.
- Pausing Lawsuits for Unpaid Bills: Ongoing legal actions to collect debt are halted, offering you relief from court summons and deadlines.
The Automatic Stay empowers you to focus on rebuilding your future without the constant fear of losing your income or assets.
Limitations of the Automatic Stay
- Repeat Filings: If you file a second bankruptcy case within a year of a previously dismissed one, the Automatic Stay may be limited.
- Certain Types of Debt: Child support collections, alimony, and some tax-related actions are not stopped by the Automatic Stay.
- Creditor Exceptions: Creditors can request to be exempted from the stay if they can demonstrate a valid reason to the court.
Need Help? Robert J. Adams & Associates is Here for You!
With decades of experience, Robert J. Adams & Associates has helped countless clients regain their financial independence. We understand the ins and outs of bankruptcy law and will be your advocate every step of the way, ensuring you take full advantage of protections like the Automatic Stay.
Ready to take control of your financial future? Contact The Bill Slayer today at 312-804-1944, and let’s discuss how bankruptcy might be the fresh start you need!