The Automatic Stay Provides Relief From Creditors
End Harassment, Foreclosure, Repossession And Garnishment
One of the most significant benefits of bankruptcy is the automatic stay. Once you file for bankruptcy protection, you will be granted immediate protection from your creditors. Once your creditors receive notice of your filing, they must immediately cease all collection or enforcement activity. The automatic stay is granted for people who file Chapter 7, 11 or 13 bankruptcy. Some of the actions that the automatic stay puts an end to are:
- Garnishing wages
- Harassing mailings, phone calls and stalking by creditors
- Levying bank accounts
- Pestering the debtor’s friends, neighbors, family members and employers about a debtor’s whereabouts or other personal information
- Foreclosing or levying upon property, including secured debt items such as your home or other real estate, your bank account or business assets and even your car
While bankruptcy provides many long-term benefits, many of our clients find that the automatic stay is the most significant short-term benefit. For more information about bankruptcy and the automatic stay, contact the Los Angeles bankruptcy law firm Weintraub & Selth, APC: 310-584-7702.
The Automatic Stay Offers Significant Stress Relief
The automatic stay is an injunction of the court that comes into effect automatically when a bankruptcy case is filed. This protects you or your business from any and all forms of creditor collection or enforcement action. In Chapter 11 or Chapter 13, during the plan repayment period, creditor collection action is also stayed, allowing a debtor who can make reasonable payments the opportunity to catch up on house, car, taxes and other defaulted loans without excess interest and without fear of losing the asset.
Weintraub & Selth, APC, is a valuable resource for individuals, families and business owners facing debt problems or who are considering bankruptcy. Our bankruptcy attorneys can help you determine whether bankruptcy is right for you or if there are alternatives that may provide you with comparable benefits. If bankruptcy is right for you, we can help ensure that your automatic stay protection is honored by your creditors as required by law.
If creditor harassment is a burden to you and you need a long-term solution to your financial struggles, contact our law firm for real debt relief and the legal protections you deserve. You can gain financial security with the assistance of our Los Angeles bankruptcy attorneys. The automatic stay may be only the first step.