Perhaps the most stressful aspect of encountering financial trouble is the fear that strikes anyone in this position every time the phone rings. Bill collectors have become much more aggressive and skilled in chasing people down at different times, and this stress is something that can ruin a person’s quality of life. Fortunately, with the help of an Oklahoma bankruptcy lawyer, you can stop those creditor calls immediately if you file for bankruptcy protection.
A person who files for bankruptcy protection needs to provide the United States Bankruptcy Court with certain forms and petitions in order to open a case. When the person filing has accomplished this step, one of the first orders of business for the court is to issue what’s known as an Automatic Stay.
An Automatic Stay is a court order that’s issued to all of the creditors named on the petitions that are filed. This order informs creditors that a bankruptcy case has been filed by this person, known as the debtor, and that all collection efforts should stop immediately. While this step does not wipe out your debts, it will provide you with welcome relief from the stress that accompanies these collection efforts. If you’d like to put a stop to these creditor calls, contact an Oklahoma bankruptcy lawyer to schedule an initial consultation immediately.