When managed well, bankruptcy has the potential to help you restart your life and re-organize your finances. One of the important benefits that bankruptcy can give you is breathing room from creditors.
When creditors are pursuing you, the pressure can be intense. They may refuse to negotiate with you. They may call you up at work and at home. They may make a move to garnish your wages. They could even take you to court.
As you’re scrambling to deal with debts, the pressure from creditors just makes things worse. With bankruptcy, what you may benefit from is an automatic stay from creditors during the bankruptcy process. When you file for bankruptcy, your creditors generally have to stop contacting you for the duration of the bankruptcy process.
Limits of an automatic stay
The period of time to which your automatic stay applies can vary based on a number of factors. For example, creditors can try to get the stay lifted so that they can continue pursuing you; if a judge grants their request, they may resume contacting you. The judge can also set limits on the stay based on the details of your bankruptcy filing. There also certain debts, such as alimony, to which the automatic stay doesn’t apply.
An attorney’s assistance
In order to maximize the benefits of bankruptcy, including benefiting from an automatic stay as much as possible, you need the assistance of an attorney. Your attorney can help you handle your creditors, advocate for you in court, and push for the most favorable outcome for your bankruptcy case.
If you live in Ohio, don’t hesitate to contact an experienced Piqua, Ohio bankruptcy attorney. Bankruptcy should be an opportunity for you to start over again, with better-organized finances and an opportunity to rebuild your credit score. An attorney will fight for you to be treated fairly and receive the breathing room you need to handle your debts.