An Order granting motion to extend automatic stay is a court order that allows a debtor to delay or prevent creditors from taking action against them. This type of order is issued when a debtor files a motion to extend the automatic stay of a bankruptcy case, which is a period of protection from creditors' collection attempts. The order typically prohibits creditors from taking any action against the debtor, including collection attempts, foreclosures, repossessions, and lawsuits. It may also provide the debtor with additional time to reorganize their finances and repay their debts. There are two types of Order granting motion to extend automatic stay: a temporary extension and a permanent extension. A temporary extension is usually granted when the debtor has filed an appeal of a ruling in a bankruptcy case. A permanent extension is usually granted when the debtor has successfully completed their reorganization plan and has made arrangements to repay their debts. The order granting motion to extend automatic stay is a powerful tool for debtors. It can provide them with breathing room to reorganize their finances and get back on track with their creditors.
Order granting motion to extend automatic stay
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How to fill out Order Granting Motion To Extend Automatic Stay?
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FAQ
Automatic Stay -- Immediately after a bankruptcy case is filed, an injunction (called the "Automatic Stay") is generally imposed against certain creditors who want to start or continue taking action against a debtor or the debtor's property.
An order for relief invokes the automatic stay and brings down an iron curtain, separating the pre-bankruptcy from the post-bankruptcy debtor, creating a bankruptcy estate and prohibiting unauthorized transfers of the debtor's property.
Motion for Relief from the Automatic Stay is a request by a creditor to allow the creditor to take action against the debtor or the debtor's property that would otherwise be prohibited by the automatic stay.
Civil cases involving family or domestic issues - Most family court proceedings cannot be halted by the automatic stay, including child custody and paternity cases, as well as divorce cases addressing issues other than the division of marital property.
The most commonly sought exceptions are actions by parties to securities contracts to close out open positions; eviction of a debtor by a landlord where the lease has been fully terminated prior to the bankruptcy filing; actions by taxing authorities to conduct tax audits, issue deficiency notices, demand tax returns
The Stay Has Been Lifted ? Now What? Once a creditor gets a court order lifting the automatic stay, they are allowed to move forward with foreclosure or repossession of the property that secures the debt. That said, the creditor still needs to follow state law for their collection or eviction proceedings.
The most common reason for a creditor to make a motion for relief from the automatic stay is that the debtor has filed Chapter 7 Bankruptcy or Chapter 13 Bankruptcy and does not want to use the bankruptcy to keep their house or car.
The automatic stay is one of the fundamental debtor protections provided by the bankruptcy laws. It gives the debtor a breathing spell from his creditors. It stops all collection efforts, all harassment, and all foreclosure actions.
