When every debtor files a Chapter 7 or Chapter 13 Bankruptcy, a court order enters automatically which requires all creditors to cease their collection efforts against the debtor. What does that mean? It means that the foreclosure must be stopped. It means that the wage garnishment must be released. It means that the phone calls must cease. It means that the vehicle cannot be repossessed.
Obviously, the automatic stay is quite a beneficial result of a bankruptcy filing. You may find that your ability to end a wage garnishment will allow you to keep paying your rent or mortgage. You may find that you do not want creditors, debt collection agencies and attorneys calling your family and employer. You may find that postponing a foreclosure will afford you the opportunity to perhaps save your home or, in the alternative, prepare yourself financially for moving on. Bankruptcy and the automatic stay provide you with these benefits and Wagner Law Office is eager to utilize these tools and help you in seeking a better life through bankruptcy.