A North Carolina Order For Relief From The Automatic Stay is a court order issued by a North Carolina court in a bankruptcy case that allows certain creditors to proceed with collection activity against the debtor despite the automatic stay that is imposed when a bankruptcy is filed. There are two types of North Carolina Order For Relief From The Automatic Stay — one is called an “order for relief from stay of collection action” and the other is called an “order for relief from stay of foreclosure.” The order for relief from stay of collection action allows creditors to proceed with collection activity such as filing a lawsuit or garnishing wages. The order for relief from stay of foreclosure allows creditors to proceed with the foreclosure process. Both types of North Carolina Order For Relief From The Automatic Stay require the debtor to show cause why the automatic stay should not be lifted and the creditor’s action should be allowed to proceed.
North Carolina Order For Relief From The Automatic Stay
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FAQ
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.
Creditors Obtaining Relief From the Automatic Stay -- If a creditor properly files and serves a Motion for Relief from the Automatic Stay, and a bankruptcy judge grants the Motion, the Automatic Stay will either be removed or modified so that the creditor can resume collection efforts against the debtor.
What are the exceptions to the automatic stay under 11 U.S.C § 362? Establishing paternity; Establishing or modifying domestic support obligations, including child support and alimony; Child custody or visitation matters; Divorce proceedings; Domestic violence matters.
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.
The automatic stay provides a period of time in which all judgments, collection activities, foreclosures, and repossessions of property are suspended and may not be pursued by the creditors on any debt or claim that arose before the filing of the bankruptcy petition.
Individuals may use a chapter 13 proceeding to save their home from foreclosure. The automatic stay stops the foreclosure proceeding as soon as the individual files the chapter 13 petition. The individual may then bring the past-due payments current over a reasonable period of time.
First, once a person files a bankruptcy petition, the automatic stay immediately stops the bank from foreclosing on, or repossessing, the debtor's real or personal property. Examples include the debtor's home or her car. The automatic stay doesn't allow the debtor to avoid mortgage or car payments.
Generally, the creditor on a post-petition debt cannot collect the debt until either the automatic stay is terminated or the creditor receives permission to collect from the bankruptcy court.