Dealing with constant phone calls and letters can be one of the most harrowing aspects of struggling under the weight of debt. Individuals in Georgia who wish to seek relief from overwhelming debts and protection from creditors may find that bankruptcy could be just the tool with which to achieve such goals. The automatic stay is a feature that may provide such protection and sometimes this may persist until the bankruptcy is finalized, there may be some scenarios in which this isn’t the case.
The automatic stay
The automatic stay is a tool that may kick in once a person files for bankruptcy and it could help provide various types of protections. In some cases, this may even halt foreclosure on a home or stop eviction proceedings. Creditors may be prohibited from contacting a person who is under the protection of the automatic stay, and those who encounter a violation of this aspect of bankruptcy law may find it helpful to know the steps to take to protect their interests.
However, there may be some situations in which the court may choose to lift the stay and sometimes there may also be time restraints on the length thereof. For instance, studies indicate that the automatic stay may only persist for up to 30 days if one files for bankruptcy twice in one year. The automatic stay might not even take effect at all during a third filing in a single year unless one is able to prove it is a necessity.
Protecting one’s financial future
Understanding the automatic stay may be just one vital factor in preparing to seek relief from the trials of debt through bankruptcy. When facing extended periods of monetary strain, a person in Georgia may benefit from retaining the services of an attorney for guidance in preparing to make informed choices about his or her future. In doing so, a person could obtain much-needed insight into choosing the best path with which to pursue much-needed debt relief and guidance through every step of the process.
