The automatic stay is one of the most powerful features available to individuals in personal bankruptcy. If you’re like most people who file bankruptcy, debt collectors have probably been hounding you for months. Bankruptcy can put an end to their harassment.
The moment we file your bankruptcy petition, all of your creditors must stop almost every action they are taking to try and collect a debt. Filing your bankruptcy petition instantly creates a federal court order that requires your creditors to stop all collection efforts.
The automatic stay gives individuals the breathing room they need to organize their financial affairs and is the first step to creating new beginning. It’s important to remember, however, that the automatic stay is not absolute. For instance, a creditor may request a lift of the stay in order to execute a judgment. This is particularly true of landlords.
To learn more about whether or not Chapter 7 bankruptcy or Chapter 13 bankruptcy is your best option, schedule your free, confidential bankruptcy consultation with a Colorado bankruptcy attorney today. Our online scheduling system allows you to schedule bankruptcy consultation at a time that is convenient for you.