Once you file for bankruptcy, an automatic stay will begin. The automatic stay is actually an injunction issued by the Bankruptcy Court that prohibits all collection efforts. This is a fundamental bankruptcy protection. The automatic stay protects you from bill collectors, creditors and foreclosures.
An automatic stay can:
Stop potential repossessions
Stop bank levies on your bank accounts
However, an automatic stay will not:
Stop some tax proceedings
Stop lawsuits regarding child support
Stop criminal proceedings
Don’t wait too long. Filing for bankruptcy can provide fundamental protection to your home and vehicles while stopping those pesky phone calls. Get in touch with a St. Louis bankruptcy attorney today.