For many people Atlanta chapter 7 bankruptcy has become a very real possibility. It can be a frightening ordeal and it is very easy to become confused over what to do or misled by bad information. If you start to research bankruptcy and, one of the first things that you will come across is the term automatic stay. It is extremely useful through your bankruptcy proceedings.
Learn about bankruptcy and automatic stay!
When you file for bankruptcy in Georgia, you are given what is called an Automatic Stay. The Automatic Stay is temporary but it will stop a foreclosure. It can even put a stop to any foreclosure proceedings that are in motion. The stay is designed to let you continue to live in your house and give you a little breathing room while you work out your bankruptcy payment plan.
You receive the benefits of the stay no matter which chapter you file in Georgia.
With the Automatic Stay in place, you can keep your home and have time to work on your bankruptcy case so that you’re able to get the most out of it. Make sure you consult with a great bankruptcy attorney on more about the automatic stay and how it can help you to turn your financials around.