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Video: Automatic Stays

On Behalf of | Jun 27, 2016 | Foreclosure

Getting a fresh start from debt obligations is one of the top concerns voiced by our new clients. Yet a bankruptcy filing offers much more, including a host of protections.

One form of immediate relief is the automatic stay, which is a type of injunction. The automatic stay takes effect immediately after one has filed for bankruptcy. Consequently, a filing can provide temporary relief from emergency situations like a home foreclosure, eviction, or vehicle repossession.

The automatic stay provides the breathing room for the debtor and the court to take a proper inventory of all assets and debt. Once that process is completed, a plan can be developed to restructure and route a new path.


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