If you have been browsing the Internet for the past few days on bankruptcy, you might have read about losing the automatic stay for repeat bankruptcy filings in Rockville, Maryland. That is true, but understanding it is a broad concept. With the help of an experienced bankruptcy attorney, you will know the essential bankruptcy process and rules about automatic stay and multiple bankruptcy filings.
If you are seeking a successful legal outcome with your bankruptcy petition, Kurland Law Group is the best immigration firm in Maryland that you can trust. For more than 20 years, our legal team has aimed to provide the highest-quality legal representation. We take wise action not only to assist you with your current case but also to assist you in achieving financial freedom in the future. If you are dealing with debt problems and need assistance filing a new bankruptcy case, schedule a free phone consultation with us now.
If you are filing for the second time and your previous bankruptcy case did not go well, it is time to choose the best law firm in town. As a person dealing with repeat bankruptcy filings, being more meticulous is a must. Keep in mind the following good qualities when choosing a bankruptcy lawyer:
With a solid reputation and experience, Kurland Law Group is ready to assist debtors filing for bankruptcy for the second time. Our legal team will ensure you receive comprehensive legal services across various matters. We personalize our assistance to help you achieve your goals for today and tomorrow. With over 20 years of experience handling complicated bankruptcy issues, your case will be in good hands. If you need assistance, schedule a free case evaluation today.
As a debtor, if your creditors are harassing you, filing a bankruptcy petition can help you prevent this. The automatic stay can stop creditors from pursuing collection actions, such as foreclosures, lawsuits, and telephone calls. However, multiple bankruptcy filings in a year suggest that bankruptcy relief is being manipulated. Thus, if you are filing for bankruptcy for the second or third time this year, you should prove that you are filing in good faith to get complete automatic stay protection.
What does filing in good faith in the new case mean? The requirements for proving good faith are detailed in the bankruptcy code. In general, you must show that you are not abusing the bankruptcy laws by filing prior and current bankruptcy petitions.
The determining factors also include why your previous bankruptcy case was dismissed, whether they are changes in your financial and personal circumstances, or whether any creditor asked for relief from the automatic stay, as it now stands.
If you are wondering how long the automatic stay will remain or whether it will attach or not, it will always depend on the number of times you filed for bankruptcy in the previous year.
Even if this is the situation, you can still ask the bankruptcy court to put the automatic stay in place or continue it beyond 30 days. A granted motion will prove you are not using bankruptcy in bad faith.
Before the bankruptcy court grants your request for an automatic stay, you still have to comply with the following:
If you encounter a problem, your bankruptcy attorney may get an Order Shortening Time, which enables you to give less notice than typically required.
Remember, once you file for Chapter 13 or Chapter 7 bankruptcy, all of your belongings and personal property become the property of the bankruptcy estate unless the bankruptcy court officially closes your bankruptcy petition. You may protect your properties through exemption. However, if your bankruptcy case is still pending, you cannot give away or sell those items without obtaining a court order permitting you to do so.
The bankruptcy trustee’s job is to examine your belongings and see if you have anything not covered by bankruptcy exemptions. If so, the trustee may sell the property and fairly distribute the proceeds to your creditors.
Individual creditors are not allowed by the bankruptcy code to seize or garnish assets that are part of your bankruptcy estate because it will be deemed unfair for the rest of your creditors. This rule is applicable regardless of whether your automatic stay is not in effect.
Understanding the overall concept of your multiple bankruptcy filings in Rockville, Maryland, can be confusing. It requires you to be familiar with the pertinent bankruptcy rules and procedures. While it is normal to be confused as a debtor, this should not discourage you from filing for another bankruptcy case if your circumstances require you to do so. To avoid mistakes, consult with a skilled bankruptcy attorney.
With a solid commitment to assisting clients in financial troubles, Kurland Law Group is the bankruptcy firm you need. For over 20 years, our legal team has built a solid reputation among Maryland residents based on excellence, trust, and respect. We handle each client’s case diligently by providing customized legal solutions. Apart from bankruptcy, we can help you with foreclosure defense and loan modifications, short sales, individual/consumer services, asset protection, small and medium-sized businesses, litigation services, and wage garnishment options. If you have questions or concerns, book a free case evaluation with us now!
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