Being a Las Vegas Lawyer I’m versed in working with both Chapter 7 and Chapter 13 bankruptcies. Regrettably, Vegas can be viewed as the Bankruptcy capital of the US. So, before considering filing for a Las Vegas Bankruptcy you should recognize what bankruptcy can do for you. This post is a brief essay on the automatic stay in Bankruptcy. When declaring bankruptcy, as a debtor, an automatic stay is introduced. What an automatic stay forbids lenders from doing certain actions. For instance, once bankruptcy is filed a creditor cannot due the following: Commence or continue a lawsuit against you in any effort to collect financial obligations that you presumably owe. Carry on with any collection calls. Once bankruptcy is filed a collection agency must cease and desist all attempts to collect any alleged debts. All repossessions must stop. Please note that if you are behind on payments, filing a Chapter 7 bankruptcy can temporarily stop the repossession of one’s car. But, the stay is just short-term. The creditor’s can be able to reposess your car if they decide to file a request to lift the automatic stay. Declaring bankruptcy can stop the foreclosure sale of your property. Once again, with a chapter 7 bankruptcy, this is temporary. A chapter 13 bankruptcy can afford you more protection in case your goal would be to stop a foreclosure sale. Declaring bankruptcy can stop the garnishment of one’s wages. This automatic stay will last until the following: 1. At the request of the creditor, the judge may lift the automatic stay. 2. The item of property no longer is associated with the person filing for bankruptcy. 3. The debtor receives the discharge. This happens during when a chapter 7 bankruptcy is filed and a foreclosure and /or repossession is briefly halted. After the debtor receives a discharge a creditor is then free to purse repossession and foreclosure on the debtor’s residence. Therefore, with an automatic stay, a bankruptcy can allow you to get your financial affairs together, provide you relief from harassing calls from creditors, and stop the garnishing of your salary. But, keep in mind in the case of a chapter 7 bankruptcy these outcomes are only temporary. Being a Las Vegas Bankruptcy Lawyer I’m versed in working with both Chapter 7 and Chapter 13 bankruptcies. Regrettably, Vegas can be viewed as the Bankruptcy capital of the US. So, before considering filing for a Las Vegas Bankruptcy you should recognize what a bankruptcy does. This post is a brief essay on the automatic stay in Bankruptcy.