Automatic Stay
The United States Bankruptcy Code contains many provisions designed to protect debtors once they have started their bankruptcy filing. One of the most important of these protections is known as “automatic stay.” After an individual has declared bankruptcy, an automatic stay protects the person’s property from creditors seeking to collect on debts.
While automatic stays do make bankruptcy an appealing option for many people facing substantial financial burdens, they are subject to exceptions and it is always best to consult a legal professional before filing. The New Orleans bankruptcy attorneys at the Law Office of David D. Kervin, Jr., LLC can help you make sure your rights are protected. Contact us today at 504-599-5906 for more information.
Automatic Stay Protections
Automatic stays protect the person filing for bankruptcy from the following actions that might be pursued by creditors:
- New or continuing lawsuits.
- Taking of debtor’s property.
- Creating or executing liens.
Though these protections will be granted under most circumstances, there are some situations where a creditor may be able to avoid the restrictions of an automatic stay. In instances where they stay creates a serious concern for the creditor’s interest, the court may allow them to avoid the stay, for example. Though it may be tempting to file for bankruptcy without a lawyer, experienced legal representation may be able to help you avoid falling victim to these stay exceptions.
Contact Us
Contact the New Orleans bankruptcy lawyers at the Law Offices of the Law Office of David D. Kervin, Jr., LLC to help ensure your rights and best interests are protected throughout the duration of your bankruptcy filing. Call 504-599-5906 to discuss your options today.