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How can an automatic stay help me slow the foreclosure process?
When you file any type of bankruptcy, you receive an automatic stay from creditors. This means that creditors can no longer harass, call or send you letters. In addition, if you are being garnished, the garnishment will lift and you will be able to receive your full paycheck.
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Answers (1)
For foreclosure issues, an automatic stay will temporarily halt the process until the mortgage lender goes to court and lifts the automatic stay. However, this can take time, and in the meantime, it will give you and your family the time you need to move to another location and to make some serious life decisions. Contact a bankruptcy attorney today to find out how you can get an automatic stay.
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Posted by Marina Ricci on 21 Jan 2010
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