Quality representation through the bankruptcy process

Bankruptcy protection is a right of both individuals and corporations. Millions of people and corporations use bankruptcy to improve business operations, restructure debt, acquire more capital, and clean the slate to start anew. Federal and State laws allow lenders and others to pursue debt by means of a collection agency or litigation. Creditors will use all legal means to recover a debt. The United States Bankruptcy Code allows eligible debtors to eliminate or restructure debt while simultaneously stopping lawsuits, foreclosures, repossessions, wage garnishment and more. This protection during the bankruptcy process is called The Automatic Stay. This protection is often a much-needed tool for debtors as they work to become financially stable again. Koplen Law has decades of experience helping clients through all bankruptcy matters. Our firm is a legal resource for both businesses and individuals across Rockland County. If you would like to know more about bankruptcy or need to discuss your financial situation with an experienced attorney, contact Koplen Law.

The Automatic Stay

While you pursue debt relief, the Automatic Stay provides protection against creditors and collection agencies in a number of ways.

• The Automatic Stay is immediate: At filing, the Automatic Stay goes into effect.
• The Automatic Stay stops collectors and collection agencies: The Automatic Stay immediately stops phone calls, foreclosure actions, lawsuits, and all other collection activities.
• The Automatic Stay stops harassment: For some debtors, the Automatic Stay is a welcome reprieve from harassing phone calls and threats.
• The Automatic Stay gives room to regroup: One of the most prominent benefits of the Automatic Stay is the time it gives you to regroup while you pursue debt relief. It is in place through the entire bankruptcy process.

Can a creditor avoid the Automatic Stay?

There are certain situations when a creditor is granted relief from the Automatic Stay. Some creditors may have reason to request a court order to have the right to take action against a debtor or property of the estate. A relief from the Automatic Stay can be for both secured debts and unsecured debts. Most often, this motion to the court is in response to nondischargeable debt that will not be part of the filing. This is rare, but when it does happen, it is important to have an experienced bankruptcy attorney ready to fight the motion or mitigate its effects.

Contact Koplen Law

Filing for bankruptcy can be a powerful tool to right one’s financial ship. The process is used by millions of businesses, families, and individuals across the country. The Automatic Stay is in place while the debtor gets relief through the bankruptcy code. It is important to consult with an attorney if you believe that bankruptcy may be an option for you. Our firm understands the stress you must feel and we are here to help you through uncertain times. For a consultation with an experienced Rockland County bankruptcy attorney, contact Koplen Law.