Downfalls of the Automatic Stay – Savannah GA bankruptcy lawyer
Chatham County GA bankruptcy attorney

Loans from a pension – Despite the automatic stay, money can be withheld from your income to pay back a loan from certain types of pensions including most job-related pensions and IRAs.

Multiple filings – If you had a bankruptcy case pending during the previous year, then the stay will automatically cease after 30 days unless you, the trustee, the U.S. Trustee, or a creditor requests for the stay to continue and demonstrates that the present case was filed in good faith. If a creditor had a motion to lift the stay pending during the previous case, the court will presume that you acted in bad faith, and you will have to prove this presumption wrong to obtain the protection of the stay in your present case.

Generally, a creditor can get around the automatic stay by requesting the bankruptcy court to remove the stay, if it is not serving its intended objective. For instance, if you file for bankruptcy the day before your house is to be sold in foreclosure. You have no equity in the house, you cannot pay your mortgage dues, and you have no way of keeping the house. The foreclosing lender can petition for permission to proceed with the foreclosure and that permission is likely to be given.

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Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill – Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA

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