Automatic Stay Lawyer Ensuring Your Protections are Upheld in Loveland

With the economic and financial climate across America today, more and more people are concerned about how they will be able to pay their bills, square their accounts with creditors, and pay for their mortgage. As the entire world recovers from the effects COVID-19 had on society and the economy, you may be wondering what debt relief avenues are available to you during these uncertain times. Luckily, there are protections available to you if you are facing debt collection requests from various creditors. Many people struggling with debt, much like you, are hounded daily by debt collectors or are having their wages garnished to pay off their creditors. By filing for bankruptcy, you have a protection called “the automatic stay” that can help you put an end to harassment from debt collectors, put a stop to paying your creditors, end wage garnishments, and halt any repossessions from taking place. Contact Holland Law Office today so we can brief you more about the automatic stay and how it may be able to help your particular situation.

What is the Automatic Stay?

Simply put, the automatic stay is a legal provision and protection that stops creditors from pursuing debt collection on debtors like you. For example, if you have missed payments on a car and you are constantly being harassed by a debt collector asking for what you owe on the car, the automatic stay prevents creditors from calling and harassing you and does not make you liable to make payments to your creditors. On top of stopping harassment from debt collectors, the automatic stay is extremely useful in preventing wage garnishments from taking place. With these extra wages in your pocket as you go through your bankruptcy, you can maximize the capital you will have to start fresh once your bankruptcy finalizes. Certain circumstances may affect the automatic stay so it is best to contact an experienced bankruptcy lawyer to help you navigate your specific situation and see if an automatic stay through bankruptcy is right for you.

Can My Automatic Stay Be Lifted?

Just how you are allowed to stop creditors from harassing you and collecting debts through an automatic stay, creditors have the ability to file for a motion to lift the automatic stay so they can continue collecting their debt from you. However, this must be granted by the court and isn’t always guaranteed. In general, many creditors that file a motion for the automatic stay to be lifted are attempting to proceed with a foreclosure action or involves a dispute between a tenant and landlord. We can provide you with the legal support you need to stay in the know about your automatic stay and any actions being taken by creditors to have your automatic stay lifted.

Are Any Creditors Exempt from The Automatic Stay?

While the majority of consumer creditors are restricted from harassing you or collecting debt that you owe after the automatic stay has been put into place, other creditors are exempt from the automatic stay, without the need of filing a motion to lift the automatic stay. These creditors include but are not limited to child support, alimony, unpaid taxes, and criminal proceedings. If you are in a situation where you owe money to those creditors or entities, your automatic stay may not be enough to cover you. However, speaking with a lawyer can clarify your financial position and we will take the necessary steps to make sure you get the best support possible for your case.

What Are the Next Steps I Should Take?

Filing for bankruptcy can provide you with many solutions for your financial ills, including giving you the ability to protect your assets moving forward. With the automatic stay at your disposal, you can say goodbye to unwanted debt collector calls and a brighter outlook for your financial life. Call Holland Law Office today at 970-232-3097 to schedule a free debt strategy session.