Possibly the Greatest Gift That You Will Receive During Your Bankruptcy
If you were to ask anyone who has filed for bankruptcy what the best part was, most would probably tell you it was the discharge of debts at the end of the process. But we suspect that a very close second would be the automatic stay.
What is an automatic stay in bankruptcy? It is a provision in the law that requires the immediate end of all collection activities upon the filing of a bankruptcy petition. Once your bankruptcy has been received by the court, all of the creditors whose debts you included in the bankruptcy are notified of the filing. Once they receive notification, collection calls and letters, foreclosure and repossession actions, wage garnishments and all other collections must stop.
Why Is the Automatic Stay Important to My Bankruptcy?
The automatic stay is important for many reasons. By keeping the creditors away from you during the process, you are able to focus your attention on the bankruptcy process. It also allows the court to proceed with your bankruptcy without the interference of any outside influences. Finally, by not making any more payments after you filing bankruptcy, there is no confusion with regard to how much each creditor is owed as of the time of the filing.
At Thompson Law Firm in Chandler, Arizona, our attorneys provide comprehensive bankruptcy services to individuals and businesses throughout the Phoenix area. We help clients file for bankruptcy protection under Chapter 7, Chapter 13 and Chapter 11. We provide customized debt relief solutions designed specifically to address your unique needs.
Schedule a Free Consultation With an Arizona Bankruptcy Lawyer
Contact our office today to learn more about our bankruptcy services and the protection provided by the automatic stay. We offer a free one-hour consultation to all new clients. We are available during regular business hours from 8:30 a.m. to 5:30 p.m. Monday through Thursday, from 9 a.m. to 1 p.m. on Fridays and by appointment. You can reach us toll free at 800-584-1803 or via e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
