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
    • Order to Show Cause to Stay Foreclosure Sale in New York

      Upon entry of Judgment of Foreclosure and Sale1 in New York Supreme Court, the judgment will generally direct that the mortgaged premises be sold at public auction at a particular date and time, typically four months after entry of the foreclosure judgment. At common law, however, a borrower’s right to redeem the home lasted until the home was officially sold at public auctio ...

      Ronald D. Weiss, PC- 16 readers -
  • Loss Mitigation in Bankruptcy Court

    … entered into loss mitigation with the bankruptcy court, the defaulting borrower has the benefit of a mediated discussion with the creditor to determine modification eligibility. During this time, a creditor may generally not file to lift the automatic stay in place on any foreclosure litigation and must negotiate with you in good faith to avoid…

    Ronald D. Weiss, PC- 12 readers -
  • Lapsing of the Statute of Limitations in New York Foreclosure Actions

    … Pursuant to New York’s Civil Practice Law and Rule 231 (4), a lienholder is generally required to bring judicial action on a note secured by a mortgage on real property within six (6) years of acceleration of the mortgage note. This can be accomplished by filing a foreclosure summons and complaint in supreme court or through some clear, overt act…

    Ronald D. Weiss, PC- 12 readers -
  • A Banking Nightmare That Only Insiders Will Believe – Whistleblower Post

    …. Renee went from being a member of the Italian Olympic skating team to now suffering from heart problems, PTSD and near constant migraines. Bank Fraud Was Intentional Judge Klein took the bold step and found the bank’s misconduct was intentional. Everyone makes mistakes but Bank of America took their arrogance to a whole new level. Amendments…

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

    … will depend on the details of the case. Chapter 7 Chapter 7 bankruptcy will not discharge any type of mortgage debt – either current or arrears. Therefore, you will still be behind on your mortgage the same amount you were prior to the bankruptcy. However, Chapter 7 can discharge many other debts and can rid you of large credit payments with high…

    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?

    … files an AP to seek money damages from creditors violating the automatic stay. This is when the creditor contacts the Debtor to recover money on their debt by phone call or written communication without first obtaining permission from the Court, Debtor or Debtor’s Attorney. If you are struggling to pay credit cards, medical bills or personal loans…

    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?

    … case is opened the process will end with the homeowner losing their residence, it is always possible for the lender to voluntarily dismiss the foreclosure action. There are also some steps that can be taken by the homeowner to slow the foreclosure process including: Filing for bankruptcy: When a petition for bankruptcy is filed under any… 15 readers -
  • Bankruptcy Credit Counseling Requirement – Is It Working?

    … that most of the courts were strictly interpreting the law in those cases involving credit counseling (See U.S. Bankruptcy Court Eastern District New York[2], In re: Michal Swiatkowski, case number 805-70035-511; U.S.Bankruptcy Court[3] Southern District New York, Patrisha Osborne v. George Osborne, Case No. 11-38122). It should also be noted…

    Ronald D. Weiss, PC- 28 readers -
  • Can the Military Off-Set Your Tax Refund While You Are In Bankruptcy?

    … should obtain relief from the automatic stay first. In the case of In re Buttrill, 1:15-BK-10891-SDR, the debtors owed Army and Air Force Exchange Services (“AAFES”) $4,405.00. The creditor was listed in the bankruptcy, however AAFES off set or took directly from the United States Treasury $4,405.00 of the debtor’s tax refund. After they took the refund…

    Cynthia Lawson/ Bond and Botes- 32 readers -
  • Will You Go to Jail for Not Paying a Check Advance?

    … or a chapter 13, if you do not do a stop payment on them or close the bank account, the checks can be presented for payment by the Check Advance Company. This can cause your account to become overdrawn or wipe out the funds in the account. Although the automatic stay remains in effect during the bankruptcy case, there is an exception under 11 U.S.C. §362(b…

    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 -
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