Redwood City Bankruptcy: Automatic Stay

Having filed too many bankruptcies within a short time period makes the court have a bad impression of the debtor. For example, if a person filed for either a Chapter 7 or Chapter 13 bankruptcy in Redwood City within the past year, the courts automatically assume that the second bankruptcy is in bad faith and will then limit the application of the automatic stay to 30 days when filing for bankruptcy again. To extend the automatic stay, we strongly advise the debtor to prove to the court that he filed in "good faith."

The courts states that a person is in bad faith if the previous bankruptcy was dismissed for failure to provide required documents without an excuse and if a person’s financial situation has not changed enough to allow a financial discharge or completion of a bankruptcy plan.

Note that the courts will not limit automatic stay to 30 days if an individual was forced into filing a Chapter 13 bankruptcy after failing the Chapter 7 means test.

Having two or more bankruptcy cases within the year and filing for bankruptcy again will cause the courts not to grant an automatic stay at all. To benefit from an automatic stay, an individual has to prove to the courts that the new bankruptcy is in good faith and must make an application with the court to impose the stay on creditors; thus, waiting until the eve of a foreclosure sale could be too late. Please act now and call Sagaria Law to schedule an appointment in Redwood City for a consultation.

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