Automatic Stay

In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code, the stay begins at the moment the bankruptcy petition is filed. Secured creditors may, however, petition the bankruptcy court for relief from the automatic stay upon a showing of cause.
Posts about Automatic Stay
  • Lapsing of the Statute of Limitations in New York Foreclosure Actions

    … will be modified during settlement negotiations. The acceleration becomes leverage for the lender during modification negotiations, but an experienced Long Island foreclosure attorney can advise you as to the benefits of either accepting or rejecting a modification offer depending on the nature of the statute of limitations. Contact an Experienced Long Island…

    Ronald D. Weiss, PC- 10 readers -
  • A Banking Nightmare That Only Insiders Will Believe – Whistleblower Post

    … The story you are about to read is true. I originally posted this tale on our sister blog, Banking Misconduct. After hearing from several bank employees, I decided to repurpose the story and share with would be whistleblowers. It details just how bad things can get when big banks set up their employees (and customers) for failure. We hope…

    Due Diligence- 10 readers -
  • Can You Avoid Foreclosure in New York by Filing for Bankruptcy?

    … Can You Avoid Foreclosure in New York by Filing for Bankruptcy? Many people think that bankruptcy will be a cure-all for their financial problems. While there are many benefits to filing for bankruptcy in the right situation, the legal process cannot magically resolve all of your debt issues. One common question we hear is whether filing…

    Ronald D. Weiss, PC- 14 readers -
  • What is a Violation of the Automatic Stay?

    … What is a Violation of the Automatic Stay? Posted on Aug 24, 2016 By Bradford Botes August 24, 2016 by Bradford Botes For many of our clients, the automatic stay is the best thing that has happened to them in a long, long time. In fact, in my opinion, there is no other provision of the law that can do more good for an individual more quickly…

    Bradford Botes/ Bond and Botes- 30 readers -
  • What is an Adversary Proceeding?

    … file an AP to try to avoid having their debt discharged by the Bankruptcy proceeding. To achieve this goal of having their debt declared non-dischargeable, they will allege that you committed some sort of fraud to induce them to loan you their money or their loan falls within one of the Exceptions to discharge. They will often try to prove that you…

    Grant Mcnutt/ Bond and Botes- 21 readers -
  • Can You Change From a Chapter 13?

    … Can You Change From a Chapter 13? Posted on Jul 21, 2016 By Gail Donaldson July 21, 2016 by Gail Donaldson The majority of our clients file a Chapter 13 to protect something whether it’s their home or car. Chapter 13 gives you the protection of the automatic stay that prevents creditors from repossessing your car or foreclosing on your home…

    Gail Donaldson/ Bond and Botes- 19 readers -
  • Can a Missouri Foreclosure Be Stopped?

    … chapter of the Bankruptcy Code, an “automatic stay” goes immediately into effect. This automatic stay prohibits creditors from taking any further collection action relative to any debt without permission of the court. This includes prohibiting the filing of a foreclosure action. While filing for bankruptcy under Chapter 7 usually delays the foreclosure… 15 readers -
  • Bankruptcy Credit Counseling Requirement – Is It Working?

    … with the bankruptcy system. Consequences for Failing to Complete Credit Counseling From the onset, the Office of the United States Trustee[1] took an aggressive position in seeking dismissal of bankruptcy cases in which the debtor neglected to strictly adhere to the statutory requirement. A review of bankruptcy court opinions from around the country reveals…

    Ronald D. Weiss, PC- 28 readers -
  • Will You Go to Jail for Not Paying a Check Advance?

    … Will You Go to Jail for Not Paying a Check Advance? Posted on Mar 11, 2016 By Heather Banks March 11, 2016 by Heather Banks The answer is no. It is a loan. Check advance companies are regulated under the Deferred Presentment Services Act. Unfortunately, debtors often times become desperate for quick money and turn to check advances to make…

    Bond and Botes- 20 readers -
  • Filing a Motion to Reopen

    … a Motion to Reopen, an automatic stay of your deportation will remain in effect until the IJ issues a decision on your motion. This means that you cannot be removed from the country unless the IJ denies your Motion to Reopen. Again, if you have any questions in regard to this, you may want to consult with a Miami immigration lawyer. I didn’t receive…

    Michael G. Murray/ Miami Immigration Lawyer- 13 readers -
  • My Bankruptcy Case Was Dismissed. Can I Refile?

    … My Bankruptcy Case Was Dismissed. Can I Refile? Posted on Oct 16, 2015 By Nick Gajewski October 16, 2015 by Nick Gajewski Hopefully, filing for bankruptcy relief is something that you may only need to do once, but that isn’t always the case. Suppose you’ve been in Chapter 13 Reorganization bankruptcy case. Maybe you or your spouse has lost…

    Nick Gajewski/ Bond and Botes- 31 readers -
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