New York Bankruptcy Law
FANNING & HUGHES: New York Bankruptcy Law Firm
If you are suffering under the burden of debt, an experienced New York bankruptcy lawyer from Fanning and Hughes can give you a fresh financial start. The New York bankruptcy lawyers at Fanning and Hughes can help you file for bankruptcy under Chapter 7 or Chapter 13.
The Automatic Stay
Once a case is filed, something known informally as the "automatic stay" goes into effect. The automatic stay immediately stops most creditors from collecting against you. Creditors must stop all collection attempts. This includes:
- Garnishment. Wage garnishment will stop.
- Restraints (freezes on your bank account). Restraints will be lifted. You will have access to your account again.
- Utility disconnections. If you're behind on a utility bill and the company is threatening to disconnect your service (water, electric, gas, or telephone), the automatic stay will prevent the disconnection for at least 20 days.
- Foreclosure. If your home is being foreclosed on, the automatic stay temporarily stops the proceedings. However, the creditor can request permission from the Bankruptcy Court to proceed with the foreclosure sooner or later. In you are trying to stop a foreclosure, Chapter 13 bankruptcy is often a better option than Chapter 7 bankruptcy.
- Eviction. If you are being evicted, the automatic stay may or may not provide some help. If your landlord already has a judgment of possession against you when you file, the automatic stay won't affect that eviction proceedings. If not, the landlord may be able to convince the Court to lift the stay and allow the eviction.
Next >> The “First Meeting of Creditors” or the “341 Meeting”
We are a federally designated debt relief agency helping people for relief under the bankruptcy code.
FANNING & HUGHES, PLLC
108-18 Queens Blvd -
4th Floor
Forest Hills, NY 11375
718.261.3290 p
718.228.2422 f
contact@FHLawOffice.com
