Essentially, the second that you file with the court, a bankruptcy automatic stay is issued.
What this means is that wage garnishments, repossessions and foreclosures are all stopped.
In addition, your creditors are now no longer permitted to contact you and if they do so, they face a potential fine for defying the terms of the bankruptcy automatic stay.
One common question is whether or not you should personally notify your creditors of your bankruptcy automatic stay.
I would recommend that you do so if, for example, you have a repossession pending immediately.
If a company does unwittingly repossess your vehicle, for example, while you are under protection of the bankruptcy automatic stay, you will be able to get it back in all likelihood, but this creates more work for yourself and your lawyer and thus is better avoided.
As such, I would recommend that you do notify, after filing, any car finance companies attempting to repossess vehicles and also your employer if you are currently experiencing wage garnishments.
By federal law, your employer should not discriminate against you because you have filed for bankruptcy, so you should technically not have to worry about this or even consider it when notifying your employer.
Though, of course, these things do happen sometimes anyway.
One thing to bear in mind is that it is probably not a good idea to notify any finance company trying to repossess your vehicle of your intention to file bankruptcy before you actually do file.
This may simply make them go ahead and complete the repossession more quickly, while they still have the legal right to do and before you actually file.
As such, I would recommend waiting until your bankruptcy automatic stay is in place.