CAN THE AUTOMATIC STAY IN A BANKRUPTCY CASE DELAY OR STOP A FORECLOSURE OR REPOSSESSION?
The Automatic Stay is a “Bubble of Protection” that arises the moment you file a Chapter 7 or Chapter 13 Bankruptcy Petition. It will immediately stop the forced sale of your home from any creditor including your mortgage lender or property taxing authority. It will also prevent the repossession of your other assets, such as your car, boat, camper, etc.
This is a very important tool that we use to save our client’s property from being taken from them. After filing the Bankruptcy Petition we immediately notify the creditor of the filing and they are required to immediately cease and desist any collection efforts.
I am, Russell Simonetta, Central New York’s Premier Bankruptcy Lawyer!