What the Automatic Stay Will Stop – Columbus Georgia bankruptcy law firm

What the Automatic Stay Will Stop – Columbus Georgia bankruptcy law firm
Columbus GA chapter 7 bankruptcy

Utility disconnections. If you have defaulted on a utility bill and the company is threatening to disconnect your water, electric, gas, or telephone service, the automatic stay will prevent the disconnection for at least 20 days. Although the amount of a utility bill itself seldom justifies a bankruptcy filing, preventing electrical service cutoff in winter may be one reason.

Foreclosure. If are facing foreclosure, the automatic stay temporarily stays the proceedings, but the creditor will generally be able to go on with the foreclosure in the near future. If you are facing foreclosure, Chapter 13 bankruptcy is generally a better remedy than Chapter 7 bankruptcy, if you want to keep your house.

Multiple wage garnishments. Filing for bankruptcy stops garnishments dead in their tracks. Besides taking home a full salary, you also may be able to wipe out the debt in bankruptcy. Although no more than 25% of your wages can be taken to satisfy court judgments, many people file for bankruptcy when more than one wage garnishment is threatened.

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