What the Automatic Stay Will Avoid – Liberty County Georgia bankruptcy lawyer
Find bankruptcy lawyer Savannah
Utility cutoff. If you have defaulted on a utility bill and the company is threatening to discontinue your water, electric, gas, or telephone service, the automatic stay will prohibit the disconnection for at least 20 days. Although the amount of a utility bill itself seldom requires a bankruptcy filing, preventing electrical service cutoff in winter can be a reason.
Foreclosure. If your home mortgage is being foreclosed on, the automatic stay temporarily stays the proceedings, but the creditor will often be able to proceed with the foreclosure sooner or later. If you are facing foreclosure, Chapter 13 bankruptcy is generally a better remedy than Chapter 7 bankruptcy, if you want to retain your house.
Multiple wage garnishments. Filing for bankruptcy stops garnishments dead in their tracks. Besides taking home a full salary, you also may be able to discharge the debt in bankruptcy. Although no more than 25% of your wages can be taken to satisfy court orders, many people file for bankruptcy if more than one wage garnishment is threatened.
———————
Savannah Georgia bankruptcy lawyer | Bankruptcy attorneys in Savannah GA and Richmond Hill – Filing for Chapter 13 Bankruptcy and Chapter 7 Bankruptcy in Savannah GA
http://www.savannahgabankruptcy.com
Comments on this entry are closed.