If you are facing actual or threatened action by creditors or debt collectors, you should know that bankruptcy offers many important protections for you and your family. These protections serve to protect your family and your assets from actual or threatened actions by creditors and debt collectors.
What Are the Protections of Bankruptcy?
There are many ways in which bankruptcy can protect you and your assets. Filing bankruptcy can stop a foreclosure of your home, stop a wage garnishment, stop a bank levy, stop harassing phone calls, and stop a lawsuit. There are many other powerful protections, all designed to help you exercise your right to get a fresh financial start and begin anew with a clean slate.
Bankruptcy will stop foreclosure of your home dead in its tracks, even if you were to file on the eve of a foreclosure sale date. An experienced lawyer can help you permanently stop foreclosure of your home through the Chapter 13 process, and you may even be able to erase your second mortgage by having your attorney perform a lien strip. Read more about how to stop a foreclosure sale of your home.
Filing bankruptcy will also stop a wage garnishment and restore your income to where it was before your wages were garnished. You can also get rid of the underlying debt that you owe your creditor so that you can have a fresh start. Your attorney can help you put an end to a financially crippling wage garnishment.
Filing bankruptcy will stop a bank levy and depending on the circumstances and with the help of an experienced lawyer, you may even be able to recover your money that was recently taken from your bank account through a bank levy.
Creditors can be relentless when it comes to debt collection. Bankruptcy puts an end to harassing phone calls. The filing of your case imposes an automatic stay of creditor action that stops all phone calls for good. This puts an end to the stress caused by relentless creditors and debt collectors that call multiple times a day, in the morning, midday and at night. Learn more about how bankruptcy can stop creditor calls for good.
If you are confronted with an actual or threatened lawsuit, filing a bankruptcy can stop a lawsuit and in most cases will wipe out the underlying debt. If a judgment has already been entered against you, you can also eliminate the underlying debt and judgment.
There are special protections for married couples, even when only one spouse is filing. Depending upon the nature of your debts and the Chapter under which you file, a filing by one spouse alone can protect both spouses from your creditors. An experienced attorney can advise you as to the protections that apply to you and your spouse as a married couple. Learn more about the protections that bankruptcy offers to married people.
When you file your case, an automatic bankruptcy stay stops creditors from taking actions against you or your property. The automatic stay acts as a freeze on all collection activity and gives you some breathing room, while you exercise your right to seek debt relief and get a fresh start.
When your case is completed and you receive your "discharge" eliminating your debts that can be eliminated, a discharge Injunction goes into effect and permanently stops creditors and debt collectors from calling you forever and prevents them from taking any actions to attempt to collect a debt against you personally with respect to a debt that has been discharged.
Your Legal Right
Through the United States Constitution, and Federal Law, the Federal Government gives you the right to file bankruptcy San Diego! Bankruptcy is your legal right. Protect yourself. Your legal right is there for a reason: to give you legal protection when you need to use it. Read more about your bankruptcy legal right.
Free Attorney Consultation
If you have any questions about the protections available to you, call us today to set up a free attorney consultation with an attorney. Talk to an attorney today, and discover all of the protections afforded to you and learn your legal rights.