What is an Automatic Stay in Bankruptcy?
When you are filing for bankruptcy, you will have a tool you can use called an automatic stay. In this video, Buffalo Bankruptcy Attorney Michael F. Barrett explains how it can help you. If you have questions about filing for bankruptcy, contact our office to schedule an appointment with a skilled bankruptcy lawyer.
- One of bankruptcy law’s most powerful tools comes into play as soon as the matter is filed.
- The automatic stay requires all creditors to stop pursuing any action against you.
- Once you file for bankruptcy, creditors must immediately cease all actions or face potential liability for damages.
- Filing bankruptcy as soon as possible will bring immediate relief from the actions of your creditors.