The Automatic Stay
Bankruptcy is meant as a form of protection for people who are no longer able to pay back their debts. The system protects debtors from creditors attempting to call in their debts. One of the most important parts of the bankruptcy protection is the automatic stay, which generally prevents creditors from acting on claims made prior to the filing. Understanding the mechanics of the automatic stay and how it can protect you may be very important if you are considering filing for bankruptcy.
If you or someone you love is interested in learning more about how filing for bankruptcy may help, the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC can provide the information you need. Please contact us today by calling 414-377-0518.
How the Automatic Stay Works
The automatic stay is applied to a debtor as soon as he or she files for bankruptcy. It prevents creditors from taking the following actions against a debtor:
- Commencing or continuing judicial actions against the debtor
- Attempting to take possession of the debtor’s property
- Attempting to enforce a lien against a debtor’s property
Bankruptcy is meant to protect debtors, and creditors are largely restricted from bringing actions against filers. However, the automatic stay may not protect you from all forms of action against you. If you are considering bankruptcy, it is very important to discuss the automatic stay in detail with a Milwaukee bankruptcy lawyer.
Contact Us
If you or someone you love is considering filing for bankruptcy protection, the DeLadurantey Law Office, LLC, may be able to help. To discuss your case with one of our experienced Milwaukee bankruptcy attorneys, please contact us today by calling 414-377-0518.