What is the Automatic Stay protection?
The Automatic Stay is a special protection that is provided to those who have filed for bankruptcy under the U.S. Bankruptcy Code. As soon as you have declared bankruptcy, the Automatic Stay injunction goes into effect, preventing creditors from attempting to collect debts from the filer. If creditors ignore the injunction and continue to contact the debtor, they can be penalized by the court.
To learn more about the Automatic Stay and how bankruptcy protection can help you restart your finances, don’t hesitate to contact Lafayette bankruptcy lawyer Adam G. Young, PLC, at 337-261-8800.