Austin Chapter 13 Automatic Stay Attorneys
Many people who are interested in filing for bankruptcy are interested in learning more about the automatic stay. This is a legal injunction that automatically goes into effect when your petition for bankruptcy is accepted. This injunction will temporarily stay any current or future legal action that your creditors may be taking against you.
It is important for bankruptcy filers to understand the automatic stay’s limits, as well as its benefits. To discuss how it may or may not help you, contact experienced Austin Chapter 13 automatic stay lawyers Slater, Kennon & Jameson, LLP, at 512-338-1100.
How the Automatic Stay can Help
The automatic stay can stop the majority of your creditors from taking the following actions against you:
- Phone calls or letters demanding payment
- Lawsuits
- Foreclosure and repossession
In other words, you are granted a kind of “cease fire” between you and your creditors. This gives you time to get your financial matters in order without as much external pressure. If some of your debts go on to be discharged, the stay on those particular creditors will become permanent.
Limitations of the Automatic Stay
The stay will not apply to all of your creditors, so be sure to consult an Austin Chapter 13 automatic stay lawyer to learn which actions against you may continue. For example, the stay will not affect:
- Child support or alimony proceedings
- Criminal trials, including any fees or fines related to them
- Tax audits, although the actual collection of most taxes may be stayed
It is also important to note that the stay is not a permanent injunction. Your creditors will likely request that the stay be lifted for each of them, and the judge overseeing your case may grant some of those requests.
Contact Us
Before you make any choices about your financial future, you need to discuss all of your options with an experienced attorney. To contact Austin Chapter 13 bankruptcy attorneys Slater, Kennon & Jameson, LLP, call our offices at 512-338-1100.