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Lewisville, TX 75057
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For many, the benefits of bankruptcy start as soon as you file, with the automatic stay issued by the court. This order puts a stop to all collection actions from your creditors, ends wage garnishments and can save your home from the foreclosure process. This means that you will get immediate relief from the stress of harassing calls and letters. You can also usually stay in your home throughout the bankruptcy process, even if
foreclosure proceedings have already begun. Though there are ways that your creditors can lift the bankruptcy automatic stay, it most often remains in effect until the end of proceedings and the discharge of your eligible debts.
Contact our Texas bankruptcy lawyer at 972-315-6222 for a free consultation.
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Filing for bankruptcy can have many benefits, including allowing you to reclaim control of your
financial future. The automatic stay will end collection harassment, stop foreclosure and, perhaps most importantly, restore your peace of mind. Lewisville bankruptcy attorney David Shuster has been providing debt relief solutions to Texas residents for over a decade. In a free initial consultation, he can review your situation, answer your questions and explain the details of the
bankruptcy process. We accept cases throughout North Texas, including those from
Arlington,
Flower Mound,
Fort Worth,
Denton, and
Dallas.
As soon as you file for bankruptcy, the court issues an automatic stay to all your creditors. As the name suggests, this happens automatically, without the need for a hearing, trial, or judgment. This notice should put an immediate stop to:
There are, however, limits to the power of the bankruptcy automatic stay. While this notice will stop most actions against you, it cannot end:
Typically, the automatic stay remains in effect throughout the bankruptcy process. If you file Chapter 7 bankruptcy, this usually means between four and six months. For Chapter 13 bankruptcy, the automatic stay will last from three to five years. During that time, you will either liquidate your nonexempt assets or complete a Chapter 13 repayment plan. Then, any remaining unsecured debt will be discharged and the stay will be lifted. If you still owe certain debts after bankruptcy, such as back taxes, your remaining creditors can begin collection actions again.
Additionally, in some rare cases, the automatic stay can be lifted early. If you are filing for bankruptcy for the second time within a year of a previous case, the automatic stay will only last 30 days. However, if you file in good faith, then you, the bankruptcy trustee, or your bankruptcy attorney can petition the court to extend the order for the duration of the bankruptcy process.
Even if this is your first bankruptcy filing, your creditors can sometimes remove the automatic stay by filing a petition. However, a creditor cannot file such a petition without reason. For example, if you miss payments on ongoing secured debts, like your mortgage, during bankruptcy, your lender may have cause to ask for relief from the automatic stay. Additionally, some creditors may claim they do not have adequate protection on secured debts. Still, these occurrences are rare. If you have any concerns about your creditors and the automatic stay, your Lewisville bankruptcy attorney can help.
An automatic stay is just one of the many benefits of bankruptcy. At Shuster Law Firm PLLC, Lewisville bankruptcy attorney David Shuster focuses the bulk of his practice on helping those struggling with unmanageable debt. He can give you details about the automatic stay as well as explain exactly how it can benefit your unique situation.
Contact our law firm online or call our office at 972-315-6222
in Lewisville to schedule your free consultation. We also have an office location in Dallas County and assist residents across North Texas, including
Arlington,
Fort Worth,
Denton,
Flower Mound, and
Dallas, with a wide range of legal issues.
We are a debt relief agency and bankruptcy specialist. We help people file for debt relief under the U.S. Bankruptcy Code and we assist in choosing the right type of debt relief solution for your needs.
After hours or weekends by appt.
“We are a debt relief agency. We help people file for debt relief under the U.S. Bankruptcy Code”.
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.
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