The automatic stay has critical value in terms of bankruptcy protection. When you file your petition with the South Carolina Bankruptcy Court, the automatic stay immediately goes into place.

The automatic stay puts a halt to any further attempts at collection.

“The automatic stay is one of the fundamental debtor protections provided by the bankruptcy laws. It gives the debtor a breathing spell from his creditors. It stops all collection efforts, all harassment, and all foreclosure actions. It permits the debtor to attempt a repayment or reorganization plan, or simply to be relieved of the financial pressures that drove him into bankruptcy.” Bankruptcy Code Legislative History

A limited co-debtor stay is also available in Chapter 13 to safeguard the interests of a person who co-signed a debt with you. The liability of a co-debtor may persist after a loan is valued under Chapter 13.