Automatic Stays - Atlanta, GA
Are you facing overwhelming debt and struggling to keep up with your financial obligations? If so, you may be considering filing for bankruptcy. At Schuyler Elliott & Associates, Inc., we understand that the bankruptcy process can be daunting, and we are here to help. One important aspect of bankruptcy is the automatic stay, which can provide immediate relief from creditor harassment and collection efforts.
What is an automatic stay?
An automatic stay is a court order that goes into effect immediately upon the filing of a bankruptcy petition. It prohibits most creditors from taking any further action to collect debts or pursue legal action against you, including:
- Phone calls and letters demanding payment
- Lawsuits and wage garnishments
- Foreclosure and repossession proceedings
- Utility shut-offs
How can an automatic stay help me?
An automatic stay can provide much-needed breathing room while you work with your bankruptcy attorney to develop a debt relief plan. It can give you the opportunity to:
- Catch up on missed mortgage or car payments
- Negotiate with creditors to reduce or discharge debts
- Protect your assets from seizure or liquidation
- Focus on rebuilding your financial stability
How long does an automatic stay last?
The duration of an automatic stay depends on the type of bankruptcy you file and any prior bankruptcy cases you may have filed. In a Chapter 7 case, the stay typically lasts until the discharge of your debts. In a Chapter 13 case, the stay can last for the duration of your repayment plan, which can be up to five years.
Contact Our Bankruptcy Lawyers
If you are considering bankruptcy or have already filed, it is important to have an experienced bankruptcy attorney on your side. At Schuyler Elliott & Associates, Inc., we have helped countless clients achieve debt relief through bankruptcy, and we can help you too. Contact us today to schedule a consultation and learn more about how an automatic stay can benefit you.
To schedule a free consultation, call (770) 400-9102 or contact us online today. Our Gwinnett County bankruptcy attorneys in Gwinnett County are here to guide you.
