What Bankruptcy Really Stops, and What It Doesn’t

Episode Summary: In this episode of Bankruptcy Unlocked, Oklahoma bankruptcy attorney Luke Homen explains one of the most important protections in bankruptcy law: the automatic stay. Luke breaks down exactly what bankruptcy stops—lawsuits, wage garnishments, foreclosure—and what it doesn’t, such as ongoing evictions or child support obligations. He also explains how Chapter 7 and Chapter 13 differ in protecting assets, what happens to co-signers, and why even state governments and tribal lenders must comply with bankruptcy law. Packed with real-world examples, Luke shows how bankruptcy can provide immediate relief, protect wages and homes, and even stop aggressive creditors in their tracks.

Key Timestamps:

00:01 – Welcome and introduction 02:10 – What actions must immediately stop when bankruptcy is filed 05:00 – How the automatic stay works in real life 08:20 – Stopping wage garnishments through bankruptcy 12:15 – Does bankruptcy stop eviction or foreclosure? 1:40 – How Chapter 13 can save a home from foreclosure 20:05 – What debts bankruptcy does not eliminate (child support, criminal fines) 24:30 – How creditors request relief from the automatic stay 28:15 – What to do if creditors keep harassing after a bankruptcy filing 32:00 – Does bankruptcy protect co-signers? The Chapter 7 vs. Chapter 13 difference 36:15 – Myths about bankruptcy and creditor actions (licenses, tribal loans, state taxes) 41:50 – Why the automatic stay is more powerful than state or tribal law 45:00 – Final advice for overwhelmed debtors and how to get help

About the Show:

Bankruptcy Unlocked with Luke Homen helps individuals understand their rights and options when facing overwhelming debt. Hosted by Oklahoma bankruptcy attorney Luke Homen, each episode provides practical guidance on Chapter 7, Chapter 13, and how the bankruptcy code protects families from creditor harassment, foreclosure, and financial chaos.