Can a bankruptcy save my car?
Yes, at least for the time being. Once the bankruptcy petition is filed and the automatic stay is in place, that should stop any repossession action taken by your lender.
The automatic stay is like an imaginary curtain that comes down once the petition is filed. Your creditors have to stop contacting the debtor in trying to collect a debt. The automatic stay works for the debtor and the debtor's family members.
If creditors continue to violate the stay, there may a legal cause of action against them, and the debtor can sue those creditors for monetary and equitable relief for violating federal law.
However, secured creditors can ask the bankruptcy judge for relief from the automatic stay in the form of adequate protection or state law remedies.
If you have questions about Florida Foreclosures or Bankruptcy Law contact a Florida Attorney
Greg Gilbert
Keith Maynard
