CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

How Do You Benefit from the Automatic Stay?

Relief From Automatic Stay.Bankruptcy offers a variety of benefits. One of the most important is the automatic stay.

Bankruptcy’s automatic stay stops bill collectors from pursuing you. It stops all collection efforts, including those related to your home mortgage. The automatic stay continues throughout the entirety of your bankruptcy, so once you file, you will no longer be the subject of collection efforts.

The calls stop. The text messages and emails stop. Efforts to seize your property and garnish your wages – it all stops.

The automatic stay is one of the primary reasons people file for bankruptcy. It provides relief from what is likely the greatest financial stress you’ve experienced in your life. It offers wide-reaching protection from creditors and ensures you can get a handle on your situation and improve your finances without bill collectors breathing down your neck.

This relief is not only an emotional boost, it also gives you the time needed to deal with your financial issues.

Will the Automatic Stay Stop All Collection Efforts?

Yes, the automatic stay prevents creditors from taking any collection efforts against you, at least temporarily.

Filing for bankruptcy means creditors can no longer:

  • Call you
  • Initiate new lawsuits against you
  • Continue lawsuits already in progress
  • Continue court proceedings already in progress regarding seizure or repossession of property
  • Garnish wages
  • Issue tax levies

The automatic stay occurs in both Chapter 7 and Chapter 13 bankruptcy filings. It is intended to provide time to liquidate assets in Chapter 7 and time to create a repayment plan in Chapter 13.

How Long Does the Automatic Stay Last?

The length of the automatic stay depends on the chapter bankruptcy and the decision of the court.

In Chapter 13, the automatic stay remains in place until the end of the repayment plan. In Chapter 7, it’s in place until the discharge. So the debt or debt affected by the automatic stay will either be discharged and you’ll no longer be responsible for paying that debt, or it will not be discharged and the creditor can begin collection efforts again.

The only exceptions to the protections of the automatic stay in bankruptcy are some tax debts, criminal court case fines, and any money owed related to a family support order – all things debts that are unlikely to be discharged in bankruptcy anyway.

For more information about debts that aren’t dischargeable in bankruptcy, check out this information from NOLO.com.

If your bankruptcy case is dismissed, the automatic stay and the protection it provides is no longer valid. Avoiding a revocation of the automatic stay is yet another reason to work with an experienced attorney when filing for bankruptcy.

To learn more about how the automatic stay can help you if you are struggling financially, or if you’d like to discuss the benefits of filing for bankruptcy with an experienced professional, we can help. Contact the Law Office of Robert M. Geller at 813.254.5696 to schedule a no-obligation consultation.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Should Seniors File Bankruptcy? Here’s 3 Things You Need to Know

Should seniors file for bankruptcy? Maybe. It all depends on their specific financial circumstances. Bankruptcy can be a great solution...
Read More

What Happens If My Spouse Dies During Bankruptcy?

Seniors declaring bankruptcy have many concerns. One of the most pressing is how their health or their spouse’s health might...
Read More

Can I File for Bankruptcy Without a Job?

Bankruptcy is often considered a tool used by people without money, without income, and without any financial hope. The truth...
Read More

Should I Use Retirement Savings to Avoid Bankruptcy? A Tampa Bankruptcy Lawyer Can Help You Protect Your Retirement Nest Egg

Withdrawing money from your retirement savings is rarely advised by financial experts, even if you are facing bankruptcy. Working with...
Read More

Can You File for Bankruptcy and Keep Your Home

Foreclosure is something that occurs after a homeowner has missed multiple mortgage payments. Working with a Florida bankruptcy attorney helps...
Read More

Is There Such a Thing as Mortgage Bankruptcy?

Your home is one of your primary concerns when filing for bankruptcy. Can you claim bankruptcy and keep your home?...
Read More

What Do You Need to Know about a Home Auction in Bankruptcy?

Home auctions are a common topic that arises when someone is faced with the prospect of bankruptcy. Bankruptcy protection for...
Read More

Can a Florida Bankruptcy Attorney Help Me Avoid Eviction

Losing one’s home is one of the most common concerns you can have when filing for bankruptcy. A Florida bankruptcy...
Read More

Covid-19 Tax Tips

The COVID-19 pandemic has affected a variety of things including taxes. These COVID tax tips can help you prepare and...
Read More

How Can a Bankruptcy Attorney in Tampa Florida Help Me If I Fall Behind on My Mortgage After Filing for Bankruptcy?

Many people find that filing for bankruptcy provides all of the financial relief they need to get back on track....
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions