One of the most beneficial effects of filing bankruptcy in Albuquerque is that the bankruptcy court will issue what is called an “automatic stay.” Once issued, an automatic stay prevents creditors from contacting you, and halts any proceedings toward repossession, foreclosure, wage garnishment, or lawsuits. You even have the legal option to pursue a suit against any creditors who violate the automatic stay by continuing harassing collection calls or otherwise contacting or threatening you with legal action.
Personal Bankruptcy Can Keep Creditors at Bay
Personal bankruptcy can sometimes be the best option when you find yourself with an unmanageable level of debt. You can give yourself the breathing room you need to reorganize your finances without losing everything that you and your family have worked so hard to attain.
No Matter Which Type of Bankruptcy, Your Family Stays Protected
Whether you are better off filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy, the automatic stay will extend protection from creditors throughout the course of your bankruptcy. With Chapter 7 bankruptcy, this can be as short as about four months, at which time your debts will be mostly or completely discharged. In the case of Chapter 13 bankruptcy, the automatic stay can protect you for up to five years while you continue your court-approved repayment plan. While creditors sometimes appeal to the court to have the automatic stay lifted, our experienced Albuquerque bankruptcy attorneys will work diligently to help prevent this.
Call 866-501-8500 for immediate help with your debt from Melwani Law.
Contact Melwani Law for a Free Evaluation
While the burden of serious debt can seem impossible to escape from, there is hope. Call the Albuquerque personal bankruptcy lawyers at Melwani Law at 866-501-8500. We can determine which type of bankruptcy, if any, is right for you, and answer all your questions about the effects of filing bankruptcy. You don’t have to live under the shadow of debt. Get help today.