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The Automatic Stay Is a Very Powerful Tool

The American Dream can drive us to achieve extraordinary success, yet we must stop to deal with home foreclosure notices and possibly filing bankruptcy. Too often, recession, job loss, divorce and poor health deal us a rotten hand. These unfortunate circumstances require immediate action.

The first sign best laid plans are slipping away is a surprise call from a bill collector. Next, the phone rings more often and you think twice before answering. You realize your car payment slipped behind, but also know how to game the system for few more weeks. If problems remain unattended, a dreaded notice of foreclosure may appear. Bankruptcy can stop a foreclosure crisis.

You can stop the nonsense by filing bankruptcy. Help is automatic. Specifically, the 363 bankruptcy automatic stay acts as a federal injunction. This injunction prohibits all further creditor actions. The stay stops foreclosure in Chapter 7 and Chapter 13 cases. You home remains safe.

How Effective is an Automatic Stay?

The stay begins the moment you file Chapter 7 or Chapter 13. Then, after filing, notices of default cannot continue into repossession. Foreclosures sit still. Creditors cannot file suits. Mortgage accelerations stop. Home lenders must wait patiently. Your deeds, liens and notes are on hold.

The 363 bankruptcy stay is an all powerful remedy that all creditors must obey. Mortgage companies and their collectors must stop calling you. Even the IRS must bow down in surrender. Your home is now safe from a tax levy.

How Long Am I Protected?

The relief provided by the stay is temporary. The U.S. Bankruptcy Code intentionally limits the stay in many situations. For example, the stay last only a few months for mortgage debts in Chapter 7 if payments remain in arrears. In Chapter 13, you get a little more leeway and can roll past due mortgage payments in a future plan. In both types of cases, debtors must follow specific steps, at the proper time, in the right sequence, to maintain the stay for all debts. If you miss a step, even one, creditors may receive court for permission to resume the foreclosure process.

You must take charge to stop foreclosure sales and avoid bankruptcy. The key is timing.

The best time to confront financial problems is when you have time to plan. Given enough time and preparation, you may avoid filing bankruptcy altogether. The key is using you options wisely. To do this, you must use a solid strategy backed up with time proven tactics. This is exactly what we can do for you. Using free forms for filing Chapter 7 or Chapter 13 haphazardly will not work for long.

Too many attorneys run paper mills. They charge a low standard fee and force clients into a one-size-fits-all case. You can recognize these attorneys because they seem too busy to stop and take your call, or avoid spending an hour or two to fully discuss your options. Instead, you feel as if you paid for customer number only to stand in a line at a mall. This is wrong. Legal representation should be personal, active, creative, and most of all, highly profitable for you.

Our Bankruptcy Strategies Manual teaches debtors how to create a profitable strategy. We reveal how to manage lawyers effectively. We provide hundreds of examples, tips and suggestions for applying tactics wisely. We explain how to find the right attorney and provide insightful questions to ask. Armed with knowledge, great results and reasonable fees are as automatic as the stay.

When you file, success should follow as easily as a row of dominoes toward your personally chosen goals. You will excel, if you can take charge of your future today.

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