The benefits of bankruptcy can significantly improve the financial and personal well-beings of individuals and families who are truly in need of debt relief. Although the bankruptcy process may appear foreign and overwhelming at first, it can be made easier by working with experienced Modesto bankruptcy lawyers.
While there are many benefits to bankruptcy, bankruptcy protection afforded by the automatic stay is one of the most notable. The automatic stay is a court order issued at the time your bankruptcy petition is filed and requires all debt collection actions to stop while your bankruptcy case is pending. Examples of the debt collection actions which can be halted include:
- Wage garnishment
- Foreclosure proceedings
- Utility shutoffs
- Civil lawsuits
- Debt collection phone calls
The "breathing space" and available funds afforded by the automatic stay may allow some individuals to become current on certain debts. It may also be a powerful tool in foreclosure defense. Additionally, the automatic stay can create the time and space to help you prepare for bankruptcy proceedings and your financial life after your case is resolved. It is important to remember, however, that certain creditors may petition the court to have the stay removed in order to continue debt collection actions or foreclosure proceedings. Our legal team can assist you with understanding how the automatic stay may work according to your particular situation.
More questions? Contact Scott Mitchell Law Incorporated today!
At Scott Mitchell Law Incorporated, our legal team is committed to working personally with our clients and helping them understand how they may benefit from filing bankruptcy. Your finances are personal and your financial situation unique, which is why it is essential to work with attentive attorneys who can find the most appropriate course of action for your situation.
If you would like to learn more about the automatic stay, benefits of bankruptcy, and how our legal may be able to help you through the bankruptcy process, call (202) 418-7386 for a free consultation or fill out a free case evaluation form.