Rights in Bankruptcy

When an individual or family files for bankruptcy, they receive a number of legal protections that can make all the difference in paving the way for a successful, financial recovery. Of especial value is the automatic stay—a court injunction that prohibits creditors from contacting or taking legal action against a debtor or debtors. Once an automatic stay has been granted, creditors are no longer entitled to freeze a person’s bank account or retain a portion of a person’s wages in the form of wage garnishments. Moreover, utility companies are prevented from disconnecting services for at least twenty days after the stay has been granted. What’s more, all foreclosure and repossession proceedings must cease for the duration of the bankruptcy process, or until a creditor successfully petitions the court for a relief from stay. One’s best option to prevent a creditor from gaining a relief from stay (which in effect allows a creditor to seize a property or to continue with a foreclosure action) is to retain shrewd, legal counsel.

Since 1996, the Law Offices of David I. Pankin, P.C. have helped thousands of people to reassert control over their finances. The attorneys at the firm understand the nuances of the bankruptcy laws and are dedicated to crafting legal strategies that are best suited to each client’s unique, financial situation. For more information on how the firm can help you to exercise your full legal rights, please contact our office by phone at 888-529-9600 to arrange for a free, initial consultation. Remember, “bankruptcy is not the end it’s a new beginning.”