Understanding The Benefits Of The Automatic Stay
If you are considering filing for Chapter 7 or Chapter 13 bankruptcy, it is important to understand the protections and benefits of the automatic stay. At the Law Office of Donald H. London Esq., our team will clearly outline the aspects of the automatic stay, the benefits, and how they apply to your specific situation.
Will An Automatic Stay Stop Creditors From Calling Me Day And Night?
For many people struggling financially, the constant pressure and harassment from bill collectors and creditors or the prospect of losing one’s home only adds to the mounting burden. However, filing for bankruptcy can alleviate some of the pressure. Among the most helpful aspects of a Chapter 7 or Chapter 13 bankruptcy filing are the protections provided by the automatic stay. In short, once you petition for bankruptcy, the automatic stay goes into effect and as long as it remains in effect, creditors and debt collectors will be unable to call, email or otherwise harass you.
Below are some other protections the automatic stay provides:
- Lawsuits brought by creditors will be suspended
- Wage garnishment will cease
- In a Chapter 13 filing, your home will be protected against foreclosure
- Co-debtors (family members or others included on a loan) will be protected during the stay’s duration
When you work with our attorney, you will have an opportunity to ask questions and gather information regarding the automatic stay. For example, if a creditor continues to contact you trying to collect, notify your lawyer immediately. Creditors can be held accountable for violating the terms of the automatic stay.
Learn More About How Bankruptcy Can Help You Get A Fresh Start
Speak with an experienced bankruptcy lawyer by calling our Yonkers, New York, law office at 914-965-7230. You can also reach us via email by completing our online contact form. We also offer flexible appointment scheduling and Spanish-language services.
We are a debt relief agency. We help people file for bankruptcy under the U.S. bankruptcy code.