What Happens to the Automatic Stay if My Bankruptcy Case Is Dismissed?
When filing for bankruptcy, an automatic stay is put in place which prevents creditors from taking legal action against you. If you file for bankruptcy and your case is dismissed, what happens to this automatic stay? This article will explain the implications of a dismissed bankruptcy case on the automatic stay.
The automatic stay is lifted when a bankruptcy case is dismissed. When this happens, creditors are allowed to resume their collection activities including repossessing property or garnishing wages. As such, if your bankruptcy case has been dismissed and you have outstanding debt, it’s important that you take proactive steps to protect yourself from further financial harm by making sure your creditors don’t have access to any assets or income that can be used against you.
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