What is automatic stay?
Automatic stay is a form of financial protection that is enacted when you file for bankruptcy. It stops all debt-collection actions taken by your creditors, including foreclosure proceedings, wage garnishments, repossessions, and collection calls. Creditors are prohibited by law from filing a new suit against you and from continuing to badger you for money.
If you would like to learn more about automatic stay, contact Birmingham bankruptcy lawyer Paula Greenway today at (205) 324-4000.