Stop Foreclosure – Automatic Stay
The Automatic Stay
An experienced Boulder Bankruptcy Attorney will tell you that an automatic stay is a powerful protection device for consumers in the realm of bankruptcy. An automatic stay in a Boulder Bankruptcy can be defined as temporarily evaluation that has been automatically placed once the bankruptcy petition has been filed by a company or individual.
The process is the same whether you file a Broomfield Bankruptcy, a Lafayette Bankruptcy, a Superior Bankruptcy, a Westminster Bankruptcy, or even an Erie Bankruptcy. According to U.S. Bankruptcy Code section 362, the stay will protect you from almost all creditors and their actions against you from the moment the case is filed. The Automatic Stay does not last forever and it generally ends when at least one of the following three actions occur:
- your discharge is denied or granted
- at time of dismissal of case
- when the case is closing
If the discharge of bankruptcy is granted and the case is closed then the automatic stay turns permanent and takes the form of Discharge Injunction. In case the discharge has been denied or the case gets dismissed, the creditors may take action and act against you. Your creditors may also request the Bankruptcy court to lift the stay and enable them to go ahead with their course of action against your property or you. This is because specific requirements for governing their ability is also present but the court will definitely require some kind of proof to lift the stay. Mortgage companies may also file a motion to get relief from stay safe you fall behind your payments.
In a Chapter 13 Bankruptcy Boulder case, we can permanently stop foreclosure by proposing a plan whereby you come current over time and continue to make the regular monthly mortgage payment. In a Chapter 7 Bankruptcy Boulder case, if you are not current on your payments, the Bankruptcy will postpone the foreclosure until your case is dismissed or until your creditor/mortgage holder files a motion for, and is granted, “Relief From Stay.”
STOP AUTO REPOSSESSION
All auto repossession actions are immediately ceased upon filing.
STOP WAGE GARNISHMENT
All wage garnishment actions are immediately ceased upon filing, with the possible exception of existing child support/maintenance/separation agreement orders.
All lawsuits are immediately ceased upon filing.
STOP CREDITOR CALLS
All calls from creditors must cease upon filing or they are exposed to civil liability.
If you’re looking for a Boulder Bankruptcy Attorney or a Longmont Bankruptcy Attorney – or someone who services these areas, including: Brighton; Broomfield; Englewood, Erie; Fort Lupton; Gunbarrel; Lafayette; Loveland; Lyons; Mead; Niwot; Northglenn; Superior, Thornton; Welby; Weld County; Westminster; Wheat Ridge – then let The Colorado Bankruptcy Center work with you to protect you and your future. Contact Us when you are ready for your FRESH START