An automatic stay can help protect you from lawsuits and other actions when you’ve been declared bankrupt. To learn what your rights are, you should consult with a law firm in Dallas, TX that handles bankruptcy cases.
A voluntary petition for bankruptcy means that you’re seeking a legal way to deal with the debts you’ve incurred. If you’re unable to pay them, this can provide a means of getting out from under the burden of debt.
The automatic stay is beneficial when you’re at serious risk of having your home foreclosed on or losing necessary resources such as utility services or unemployment benefits. This can help protect your property when you declared yourself bankrupt.
However not everything will be stopped by an automatic stay, or at least may not be stopped permanently. Some circumstances may only provide temporary relief.
For instance, if you’re at risk of having utility connections shut off, the automatic stay can prevent this from happening for 20 days but this doesn’t permanently resolve your problem. It can also temporarily halt the foreclosure on your home but it won’t permanently stop it.
In the case of an eviction, you may not be able to stop that as well. It has become much easier for landlords to evict tenants especially if they already had a judgment against you, prior to you filing for bankruptcy.
If you plan on filing for bankruptcy and wish to get rid of all your debt, then you may want to speak with a Chapter 7 attorney in Texas who can help determine if you may qualify for this type of bankruptcy. They can also better explain how you may be impacted by an automatic stay.
Declared Bankrupt? Contact a Law Firm in Dallas TX
At Warren & Migliaccio, our goal is to protect you and your family so that you can take the necessary steps to proactively plan for your future. When financial circumstances outside of your control threaten your wellbeing, take control of your situation by contacting our law firm in Dallas TX. We’ll guide you through the legal process so you can make informed decisions, such as a voluntary petition for bankruptcy, and choose the best course of action. If a personalized, teamwork-driven approach sounds like what you need for your case, call 1-888-584-9614 today. A Chapter 7 attorney inTexas can help.