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Bankrupty Building Blocks: What is the Automatic Stay

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					                This is an excerpt from the




    CONSUMER’S GUIDE TO
       BANKRUPTCY

                 IN THE FULL GUIDE YOU WOULD GET:

        A basic understanding of the 2 main types of consumer bankruptcy,
        valuable insights into evaluating bankruptcy as a debt reduction tool,
          and practical guidance for finding a quality bankruptcy attorney.

                                 Topics covered:

-   An overview of the bankruptcy process.
-   Key bankruptcy terms like: “discharge,” “automatic stay,” and “exemptions.”
-   Chapter 7 bankruptcy: what it is, how it works, and when it is preferred.
-   Chapter 13 bankruptcy: what it is, how it works, and when it is preferred.
-   How bankruptcy can save a home from foreclosure or a car from repossession.
-   5 good reasons to file bankruptcy.
-   5 good reasons not to file bankruptcy.
-   3 alternatives to filing for bankruptcy.
-   5 questions to ask when interviewing a prospective bankruptcy attorney.




          Want a free copy of this guide?
       Just send an email to bkguide@llgtn.com and look for it in your inbox!
                         WHAT IS THE AUTOMATIC STAY?



                                        In	
   addition	
   to	
   the	
   bankruptcy	
   discharge,	
   one	
   of	
   the	
  
The	
  automatic	
  stay	
              other	
  main	
  reasons	
  why	
  people	
  file	
  for	
  bankruptcy	
  is	
  
is	
  a	
  shield	
  that	
             the	
   automatic	
   stay.	
   	
   The	
   stay	
   goes	
   into	
   effect	
  
prevents	
  creditors	
                 automatically	
  and	
  immediately	
  upon	
  the	
  filing	
  of	
  your	
  
from	
  contacting	
  a	
               case.1	
  	
  
debtor,	
  harassing	
  a	
             	
  
debtor,	
  or	
  continuing	
           	
  	
  
their	
  efforts	
  to	
  collect	
     The	
  bankruptcy	
  automatic	
  stay	
  immediately	
  stops	
  
against	
  a	
  debtor	
  once	
        LAWSUITS,	
  FORECLOSURES,	
  GARNISHMENTS,	
  and	
  all	
  
they	
  have	
  filed	
  a	
            collection	
  efforts	
  against	
  you	
  and	
  your	
  property.	
  	
  	
  
                                        	
  
bankruptcy	
  case.	
  
                                        	
  
	
  
                                        The	
  automatic	
  stay	
  is	
  not	
  an	
  absolute	
  shield,	
  though.	
  	
  It	
  
                                        will	
  not	
  stop	
  the	
  commencement	
  or	
  the	
  continuation	
  of	
  
                                        certain	
  civil	
  and	
  criminal	
  actions.	
  	
  


                                        COMMONLY                                       COMMON ACTIONS
                                        “STAYED” ACTIONS                               THAT WILL CONTINUE


                                        1. The	
  beginning	
  or	
                    1.         Criminal	
  actions;	
  
                                           continuing	
  of	
  a	
                     2.         Civil	
  action	
  for	
  
                                           lawsuit	
  or	
  other	
                               dissolution	
  of	
  
                                           judicial	
  proceeding	
                               marriage;	
  
                                           against	
  you;	
                           3.         Civil	
  action	
  for	
  
                                        2. The	
  enforcement	
  or	
                             establishment	
  or	
  
                                           execution	
  of	
  a	
                                 modification	
  of	
  a	
  
                                           judgment	
  against	
                                  domestic	
  support	
  
                                           you;	
                                                 obligation;	
  
                                        3. Actions	
  to	
  obtain	
                   4.         Civil	
  actions	
  for	
  
                                           possession	
  or	
                                     establishment	
  of	
  
                                           exercise	
  control	
  over	
                          paternity.	
  
                                           your	
  property;	
                         	
  
                                        4. Actions	
  to	
  create,	
  
                                           perfect,	
  or	
  enforce	
  a	
  
                                           lien	
  against	
  your	
  
                                           property;	
  
                                        	
  
                                               ABOUT THE AUTHOR



	
                                                     GORDON BOUTWELL is	
   a	
   bankruptcy	
   and	
   consumer	
  
	
                                               protection	
   attorney	
   in	
   Franklin,	
   Tennessee.	
   	
   He	
   has	
  
                                                 practiced	
   law	
   since	
   2006,	
   with	
   most	
   of	
   that	
   time	
  
                                                 dedicated	
   to	
   bankruptcy,	
   personal	
   finance,	
   and	
  
                                                 consumer	
  advocacy.	
  	
  	
  
                                                 	
  
                                                 Over	
  the	
  years	
  he	
  has	
  helped	
  hundreds	
  of	
  individuals,	
  
                                                 couples,	
  and	
  families	
  with	
  their	
  financial	
  problems.	
  	
  He	
  
                                                 believes	
   in	
   treating	
   other	
   people	
   the	
   way	
   he	
   would	
  
                                                 want	
   to	
   be	
   treated	
   in	
   the	
   same	
   situation.	
   	
   He	
   takes	
  the	
  
                                                 time	
  to	
  get	
  to	
  know	
  his	
  clients,	
  and	
  he	
  educates	
  them	
  
                                                 on	
  their	
  options	
  for	
  getting	
  out	
  of	
  debt,	
  helping	
  them	
  to	
  
                                                 understand	
  and	
  evaluate	
  them.	
  	
  	
  	
  	
  
                                                 	
  
                                                 He	
   believes	
   bankruptcy	
   is	
   a	
   worthwhile	
   tool	
   to	
   help	
  
                                                 some	
   (but	
   not	
   all)	
   people	
   get	
   out	
   of	
   debt,	
   and,	
   when	
  
                                                 combined	
  with	
  financial	
  education	
  and	
  counseling,	
  can	
  
                                                 be	
  a	
  springboard	
  to	
  financial	
  independence.	
  	
  	
  
                                                 	
  
                                                 In	
   March	
   2011,	
   Gordon	
   and	
   R.	
   Keith	
   Gordon	
   formed	
  
Gordon	
  H.	
  Boutwell,	
  Atty	
              the	
   Lodestone	
   Legal	
   Group	
   in	
   Franklin	
   Tennessee,	
  
Lodestone	
  Legal	
  Group	
                    with	
   the	
   purpose	
   of	
   assisting	
   business	
   and	
   private	
  
198	
  E.	
  Main	
  St.,	
  Ste.	
  4	
         clients	
  by	
  exploring	
  legal	
  options,	
  navigating	
  the	
  legal	
  
Franklin,	
  TN	
  37064	
  
                                                 pitfalls,	
   and	
   providing	
   measurable	
   results	
   through	
  
615-­‐807-­‐1064	
  
                                                 custom	
  solutions	
  and	
  a	
  commitment	
  to	
  the	
  lost	
  art	
  of	
  
bkguide@llgtn.com	
  
www.llgtn.com	
                                  personal	
  care	
  and	
  client	
  service.	
  
	
                                               	
  
	
                                               Lodestone	
   Legal	
   Group	
   practices	
   in	
   the	
   areas	
   of	
  
	
                                               bankruptcy,	
  debt	
  negotiation	
  and	
  settlement,	
  financial	
  
                                                 counseling,	
   residential	
   and	
   commercial	
   real	
   estate,	
  
                                                 estate	
   planning	
   (wills	
   and	
  trusts),	
   and	
  small	
   business	
  
                                                 and	
  corporate	
  law.	
  	
  	
  
                                                 	
  
                                                 	
  
                                                 	
  
   3                                             	
  	
  	
  	
  	
  	
  
                     Got a question about your situation or something you read in this guide?
                             Feel free to email me at bkguide@llgtn.com, call me at 615-807-1064,
                                             or visit the website at www.llgtn.com.

				
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Description: What the Automatic Stay? It's a shield that prevents creditors from contacting a debtor, harassing a debtor, or continuing their efforts to collect against a debtor once they have filed a bankruptcy case.