Let’s say you file for bankruptcy and get the benefit of the automatic stay. You’ve got a mortgage or a car loan so when you file for bankruptcy the lender can’t repossess or foreclose.
But you stop paying the car loan or mortgage. They need to take action (or so they say). How do they do [...]
Bankruptcy information for New York consumers. Published by Jay S. Fleischman, a New York bankruptcy lawyer helping consumers end their bill problems using Chapter 7 and Chapter 13 bankruptcy.
Tag Archive: relief from stay
Automatic Stay Relief – How And When Creditors Get It
How Long The Automatic Stay In Bankruptcy Lasts
The automatic stay is a powerful remedy that comes into effect as soon as your bankruptcy case is filed, but the stay doesn’t last forever. You need to realize that this shield against creditor action is not perfect, and will not work in your favor until the end of the world.
The automatic stay remains [...]
