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FAQ: What is the Automatic Stay
Bankruptcy Lawyers for Over 40 Years

​We have attempted to answer the most frequently asked questions about bankruptcy in Oklahoma that our clients have asked us before.  We hope this will be helpful.
​
This is not intended as legal advice because bankruptcy is complicated and depends on the specific circumstances unique to every Debtor. If you are considering a bankruptcy, call us toll free at (877) 886-5955 for a free consultation so we can provide legal advice tailored to your specific unique situation. There is no obligation and the call is confidential.​
The Automatic Stay

Once your bankruptcy case is filed with the Bankruptcy Court under Federal Bankruptcy Law there now exits an Automatic Stay prohibiting all of your normal creditors from taking any action against you or your property.

This Automatic Stay, sometimes just called the Stay, means that no Creditor should call or write you or attempt to contact you in any way without the advance permission of the Bankruptcy Judge.  Such permission is seldom granted. The Stay also prohibits filing or continuing litigation and garnishments of your wages and bank accounts.

There are limited exceptions.  Fines and criminal prosecutions are not affected, your child support obligation does not stop and there are a few other minor exceptions.  Secured creditors must be paid if you are to keep their collateral.  <<Go to Top>>

Calls from Creditors

If you receive any calls from a Creditor, politely but firmly tell them you have filed for bankruptcy and to not call you again. To give credibility to your request, tell the Creditor where your bankruptcy was filed and give them your Bankruptcy Case number.  This number appears on your filed Petition and on the Notice of First Meeting of Creditors.

You should double check to ensure this Creditor was listed in your Bankruptcy Schedules filed with the Bankruptcy Court.  If the Creditor was overlooked, notify us immediately.  If the Creditor calls you again, get their name and address and report this to our office.  We will see that they stop.  <<Go to Top>>

Correspondence from Creditors

If you receive a bill or letter from a Creditor, we recommend that you mail them a photocopy of your Notice of First Meeting of Creditors with a copy of their bill or letter.  All reputable Creditors will honor the Stay and leave you alone once they know you have filed bankruptcy.

Again, you should double check to ensure this Creditor was listed in your Bankruptcy Schedules filed with the Bankruptcy Court.  If the Creditor writes you again, report this to our office.  We will see that they stop writing and leave you alone.  <<Go to Top>>

Lawsuits

If you receive a summons or have reason to believe that you have been sued by a Creditor, contact our office immediately with copies of the suit papers. You may not ignore a lawsuit just because you have filed for bankruptcy.  We must file certain papers in the lawsuit to ensure that your bankruptcy filing protects you.  <<Go to Top>>

Reaffirmed Debts

Occasionally a Debtor will want to pay a Creditor after the bankruptcy.  This is known as reaffirming a debt.  You must sign a written Reaffirmation Agreement to make this binding on you.

There are many reasons to Reaffirm:  A person in a small town with only one doctor may want to Reaffirm their bill with that doctor to ensure continued medical care.  Or, someone wanting to keep an asset like an automobile subject to a lien may be required to Reaffirm to be able to keep the asset.

If you plan to reaffirm a debt, you will want to deal with that Creditor differently.  Normally, you will want to continue to make the payments on time and in full.  You will probably also want to personally talk to such creditors who you live nearby.  This will help keep their good will since you must continue to deal with them after the bankruptcy is over.

If we haven‘t already done so, be sure that you talk to us about how to handle any Creditors that you want to pay regardless of bankruptcy.  <<Go to Top>>

Notice to Creditors 

Under the new bankruptcy law a Creditor must be provided adequate notice of your bankruptcy to include the account number that the Creditor uses to identify you.  So, it is critical for you to provide us the accurate name, address and any identifying account number if you want to stop harassment by Creditors.  The Bankruptcy Questionnaire is the appropriate way to do this.  <<Go to Top>>