- In U.S. bankruptcy law, the automatic stay provides those debtors who have declared bankruptcy protection from creditors by halting their actions in collecting debts (there are some exceptions).
- The stay begins the moment the bankruptcy petition is filed. No action besides filing a bankruptcy petition is required for the automatic stay to go into effect.
- Debtors facing foreclosure often consider turning to bankruptcy as a means of protecting their home.
- The automatic stay applies in both Chapter 7 and Chapter 13 bankruptcy cases.
- There are limits for how long the stay is effective and exclusions for prior bankruptcy filings. Seek advice from an experienced bankruptcy attorney to learn what your rights are.
MOTION FOR RELIEF FROM AUTOMATIC STAY
A creditor may file a motion for relief from the automatic stay in order to seek permission from the court to take actions necessary to protect their interests (i.e. repossession or foreclosure).
That is why it is important to get the right lawyer to represent you!
Feldman and Feldman, Attorneys at Law
Your Experienced Bankruptcy Attorneys
Provide each client with personal, caring and aggressive legal representation in PA.