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Does a Bankruptcy Stop All Collection Actions? The Gil Law Firm Explains September 24, 2015

Dothan, Houston
Does a Bankruptcy Stop All Collection Actions? The Gil Law Firm Explains, Dothan, Alabama

Filing for bankruptcy carries a variety of benefits for borrowers struggling with debts who can't pay, especially the automatic stay that puts an immediate stop to most collections efforts by your creditors. However, bankruptcy allows for some exemptions, so The Gil Law Firm, an experienced group of attorneys serving clients throughout Alabama, Florida, and Georgia, is here to explain some of the details of the automatic stay.

What are comprehensive responses to frequently asked questions about bankruptcy?

  • Does the automatic stay cover all kinds of debts? For the most part, the court requires that creditors immediately cease wage garnishments and repossession activity, as well as harassing phone calls and letters after a bankruptcy has been put into action. However, the stay does not apply to debts that aren't included in bankruptcy, including some tax debts and child support collections. Contact The Gil Law Firm to find out whether any of your debts will be excluded.

  • Will the automatic stay prevent foreclosure? Foreclosure is a more complex situation, with the result depending on which form of bankruptcy you're claiming. In a Chapter 7 bankruptcy, you'll likely receive a delay and a discharge of your remaining debt. In a Chapter 13, however, you may be able to keep your house while catching up on late or missed mortgage payments. The Gil Law Firm will help you decide what option will best serve your needs.
  • What other factors influence the automatic stay? Different rules and shorter periods apply to some people who have previously filed for bankruptcy. Your lawyer will be able to determine how your financial history will affect the stay before you file.

Visit The Gil Law Firm online to learn more about how to file for bankruptcy, or call (334) 673-0100 to schedule a consultation today. For any legal situation, it pays to have an experienced lawyer to represent you in court and protect your rights.

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