Debra Booher &Associates Co., Lpa Click here to get your free Legal evaluation
Call Us Today Toll Free
888-542-1300

The automatic stay: What is it, and how might it help you?

For many people across northeastern Ohio and elsewhere facing formidable financial challenges, the sources of fear and frustration can seem broad-based and ever growing, indeed.

Put another way: Although some individuals and families can easily enough become overwhelmed by a single obstacle that is causing them great distress and to slip further into debt (medical debt is a common culprit, for example, as can be wages that are materially compromised through a job loss), it is often the case that myriad factors collectively drive escalating money challenges.

To wit: Perhaps your home furnace blew out at the same time you were handed a huge bill for a car repair. Maybe those financial woes were compounded by a loved one's sudden need for a cash infusion. Paying off a growing list of creditors might now be interfering with your ability to stay timely on mortgage payments, keep groceries in the house, maintain vital insurances and more.

There is no perfect panacea to overcome such challenges, but there is indeed something that can be invoked to stave them off while an effective debt-relief plan is being implemented.

That is the "automatic stay," which one media primer refers to as a "miraculous little thing" and a "powerful tool" for responding to insuperable debt.

What an automatic stay does is to provide protection to a debtor against creditors. The stay comes into force immediately following a bankruptcy filing, and can hold bill collectors at bay in a material way. Among other things, a stay can halt a home foreclosure proceeding, prevent an entity from seeking to garnish wages, and stop any lawsuit filed by a creditor.

Although a stay is not permanent and does not provide blanket and absolute protection from every challenge, it is indeed a potent tool that has availed many people during a time of need.

An individual or family facing daunting money challenges and searching for a sound strategy to regain financial traction might reasonably want to learn more about the automatic stay. An experienced debt-relief attorney can answer questions regarding this bankruptcy tool, and help a client craft a sensible and workable plan for dealing with material economic challenges.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Cuyahoga Falls Office
1350 Portage Trail
Cuyahoga Falls, OH 44223

Cuyahoga Falls Law Office Map

Beachwood Office
3401 Enterprise Pkwy.
Suite 340
Beachwood, Ohio 44122

Map & Directions

Independence Office
4700 Rockside Rd
Suite 415
Independence, Ohio 44131

Map & Directions

Westlake Office
1991 Crocker Rd
Suite 600
Westlake, Ohio 44145

Map & Directions

Canton Office
4450 Belden Village Street NW
Suite 204
Canton, Ohio 44718

Map & Directions

Ravenna Office
2633 St. Rt. 59
(Orchard Plaza)
1st floor
Ravenna, Ohio 44266

Map & Directions