Falling behind on your bills is always stressful and likely weighs constantly on your mind. You likely have frequent reminders of your overdue bills due to regular phone calls, letters, or other communications by your creditors and bill collectors. It is not uncommon for communications by collectors to reach the level of harassment. Additionally, you may be afraid of losing your family home or your car if you do not figure out a solution soon. If you are in this situation, Chapter 7 bankruptcy may be a good option for you, and can help give you financial relief.
How the Automatic Stay Helps
In addition to providing long-term relief from debts, Chapter 7 bankruptcy also works to provide immediate peace of mind through something called the automatic stay. As soon as you file for bankruptcy, the automatic stay goes into effect and all of your creditors are notified that you have filed for Chapter 7 bankruptcy. The automatic stay immediately stops all the following:
- Collection efforts and communications, including phone calls and letters
- Repossession efforts
- Foreclosure proceedings
- Wage garnishments
- Eviction efforts
- Civil Law Suits
- Collection efforts for public benefit overpayments
As you can see, immediate relief from the above actions can help you situation immensely. You will not have to worry about losing your vehicle or place to live. The stay remains in effect and continues to protect you throughout the Chapter 7 bankruptcy process, so that you may work on getting back on your feet. The automatic stay is only one of the many benefits Chapter 7 bankruptcy can provide.
Contact an Arizona Chapter 7 Bankruptcy Attorney for a free consultation
If you are overwhelmed by debt and unable to pay all of your bills, Chapter 7 bankruptcy can help you wipe away the majority of your debts and start over with a clean financial slate. You will no longer have to worry about harassing phone calls or dodging collectors. If you are struggling financially, an experienced Arizona bankruptcy attorney can advise you whether Chapter 7 bankruptcy is a good option for you. Do not hesitate to call the Ellett Law Offices today at (602) 235-9510 for help.