Don’t Lose the Automatic Stay Because of a Recent Bankruptcy Filing

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If you filed a recent bankruptcy case that was dismissed, either wait one year to file your new case or you must justify the prior dismissal.   The last few blog posts have been about situations in which the automatic stay is temporary, but still very effective. These situations have involved individual debts or sets of debts—such as income taxes … Read More

Avoiding Wage Garnishment by Filing Bankruptcy

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Filing bankruptcy avoids a wage garnishment from hitting your paycheck. Bankruptcy prevents a garnishment as long as it is filed fast enough.   Last time we got into how hiring a Louisville bankruptcy lawyer can stop a creditor from suing you. Sometimes it can also stop a creditor which has already sued from getting a judgment against you. But these … Read More

The Same but Very Different Automatic Stay in Chapter 7 and 13

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Both Chapter 7 and 13 have the same automatic stay to stop creditor collection actions. But how they each use that tool is very different.   Last time we focused on how you can use the Chapter 7 and Chapter 13 options to your time advantage. Chapter 7 “straight bankruptcy” is very fast. If all or most of your debts can be … Read More

Chapter 7 is Quick. Chapter 13 Buys More Time.

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Both kinds of bankruptcy can use time to your advantage. Chapter 7’s advantage is it’s quick. Chapter 13 is it buys you much more time.   A Key Distinction-Treatment of Time We’re starting a series of blog posts about the practical differences between Chapter 7 and Chapter 13 bankruptcy. Before getting down into the details let’s look at a difference … Read More

Summary about the Automatic Stay

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During the last 13 blog posts we’ve covered the automatic stay–crucial protection that filing bankruptcy gives you. Here’s a helpful summary.

Avoid Having No Automatic Stay

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If there’s a risk you would not get the immediate benefit of the automatic stay, be aware of it and be prepare to prove your “good faith.”

Automatic Stay Exceptions

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The “automatic stay” immediately stops most collection actions by most creditors when you file bankruptcy. But here are some key exceptions.

Relief from the Automatic Stay

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Creditors sometimes ask the bankruptcy court for permission to take certain collection action against you or the collateral.   In our last blog post we talked about the “automatic stay.” It’s one of the most important benefits of filing bankruptcy. It’s certainly the fastest, going into effect immediately when you or your Louisville lawyer files your bankruptcy case. The automatic … Read More