How Bankruptcy Stops Creditors
While you certainly have heard a lot about bankruptcy, you may not have heard about one of the most beneficial parts of the bankruptcy process, the automatic stay. The automatic stay does all of the following:
- Stops foreclosure
- Stops repossession
- Stops creditor harassment
- Stops creditor lawsuits
- Stops wage garnishment
At Rothschild & Ausbrooks, PLLC, our lawyers have helped countless people in Nashville and throughout Tennessee feel the benefit of the automatic stay. With more than three decades of experience on our side, you can be certain that we can put this important part of the bankruptcy process to work for you.
When Does the Automatic Stay Take Effect?
Immediately. As soon as you file for bankruptcy, the automatic stay takes effect. Creditors have to stop calling. If they are about to take your house or your car, they have to step back. You will have your case number in hand. You will be able to present it to any creditor who does not get the message and contacts you after bankruptcy is filed. Furthermore, you can refer any of your creditors to our attorneys. We will remind them that it is illegal for them to overstep the automatic stay.
Is the Automatic Stay Permanent?
The automatic stay lasts throughout the bankruptcy process. When the bankruptcy process is finished, there is no longer a need for it, because you will have received your debt discharge and there creditors will have no reason to contact you.
Contact Us for a Free Bankruptcy Consultation
Please contact Rothschild & Ausbrooks, PLLC, today to get an answer to the question, “What is the automatic stay in bankruptcy?”