People file bankruptcy in New Jersey to get protection from creditors.  They need to halt a bank levy, wage execution, or foreclosure sale.  The automatic stay is the iron wall that comes down between you and your creditors and prevents them from doing anything to collect the debt outside of bankruptcy court.  It can really get you the breathing time you need to either discharge your debt or pay it over time.

For more information, check out this article.

Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.