An automatic stay provides the debtor with a level of protection. Creditors can be a bothersome group. However, this is dependent on the bankruptcy judge. A stay will require you to bring forward all of your assets as a debtor. The court will conduct an evaluation of it. However, there have been modifications to the accommodation. This is done to prevent chronic offenders from using it multiple times. If you had a prior case that was resolved within the previous year, you are eligible for a one-month stay. With two or more pending cases, the likelihood of obtaining a stay is significantly diminished.
Automatic stays prohibit the commencement and continuation of any new or pending legal action. There are strict directives prohibiting collection calls. Repossessions are also prohibited, as are foreclosure transactions. The automatic stay is in effect until the judge lifts it. This occurs frequently at the request of creditors or when a debtor receives a discharge. In such a situation, if you file for Chapter 7 bankruptcy, you can prevent foreclosure.
In the event of a discharge, the stay becomes permanent in terms of benefits. A permanent injunction is automatically in effect. However, there are certain circumstances that cannot be altered when registering for bankruptcy. It is unable to stop criminal proceedings. You will not be exempt from child support or alimony payments. Government-owed taxes will not be exempt.
Those detected in violation of a stay will be subject to the prescribed penalties. The onus of notifying creditors of the bankruptcy filing resides with the debtors. This is not the responsibility of the courts. Any action taken by the creditor after the bankruptcy petition has been filed is null and void and has no legal ramifications.""
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