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Automatic Stay Protection for Chicago Consumers

End harassing tactics by unscrupulous creditors

Have your creditors been calling so often that you have disconnected your phone? Do you receive letters warning of foreclosure on your house or repossession of your car and television? Do you wish that you could just make it all stop? It turns out that you can. Let our dedicated Chicago bankruptcy lawyers talk to you about the advantages of bankruptcy and automatic stay protection.

When you file a petition in your local bankruptcy court, you receive an automatic stay. This means that creditors can’t move ahead with their plans to collect on your debts or reclaim your possessions. A creditor cannot file a lawsuit against you in small claims court, nor can he proceed with an existing lawsuit. Creditors cannot repossess your car or foreclose upon your house. The threatening phone calls demanding payment cease. Automatic stay protection is not guaranteed in every case. Under certain circumstances, a creditor may seek relief from the stay. Usually, though, an automatic stay lasts long enough to give you time to put your financial house in order. You don't need a judge's order or a signed writing to make it happen. You just get your petition stamped by the court clerk.

Our automatic stay protection lawyers in Chicago can tell you all about the differences between types of bankruptcy and automatic stay protection. When an individual files for bankruptcy, he or she has the option of choosing Chapter 7 or Chapter 13. Chapter 7 is best for those who want quick debt relief, have no assets to protect and satisfy the means test. Chapter 13 is for those who want to retain their possessions and make their monthly debt payments more reasonable. Both types of bankruptcy offer automatic stay protection. Both also include exceptions for relief, such as if a debtor is in default on mortgage payments and seems unlikely to pay even under a restructured plan. A creditor might also seek relief in a Chapter 7 case if he fears that valuable property is subject to unacceptable risk.

Bankruptcy is one of the only ways to get your creditors to stop pursuing you. Other options, such as loan modification, still permit creditors to foreclose upon your home. With bankruptcy, you have a chance to get your life back on track. Talk to an experienced automatic stay protection attorney in Chicago to find out more.

Get the benefits on an automatic stay -- call DebtStoppers today!

Our attorneys at DebtStoppers have helped thousands of families get a second chance through bankruptcy, and they can probably help you, too. Fill out our simple online form or give us a call at 312-913-0630. Schedule a free consultation with a DebtStoppers attorney today.