What Are the Exceptions to an Automatic Stay?
An automatic stay is an immediate order from a bankruptcy court that stops a creditor from carrying out further collection efforts against a debtor. This legal action stops the required repayment of a debt, which can prevent a debtor from facing foreclosure. However, there are some legal exceptions to this otherwise powerful foreclosure prevention tool.
If you are facing foreclosure because of your debts, it may be appropriate to file for bankruptcy. Whether filing under Chapter 7’s liquidation protection or Chapter 13’s repayment plan, you may be able to save a significant amount of important property through these proceedings that would be normally seized by lenders. For more information, contact Florida bankruptcy attorney Ryan J. Really, Attorney at Law, PLLC, by calling (239) 237-0675 today.
Creditors against Automatic Stays
There are a few situations when a creditor can fight against an automatic stay or may not necessarily need to follow this order. In these cases, a debtor may not be able to protect their property from foreclosure or may need to take additional legal steps. These situations include the following:
- Lifted stays provided by bankruptcy courts
- Foreclosures already given notice
- Foreclosures already completed
In some of these circumstances, a person may be able to prevent a foreclosure by working with a creditor with help from a legal advisor. Between the bankruptcy courts and negotiation strategies, many debtors can obtain favorable agreements with their lenders.
If your debt has become too much for you to handle, you may want to consider the freedom provided through bankruptcy. To learn more about how we can help you win your fight against debt, contact Florida bankruptcy lawyer Ryan J. Really, Attorney at Law, PLLC, at (239) 237-0675.