Sample Letter regarding Answer to Motion for Relief from the Automatic Stay and Abandonment
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How to fill out Sample Letter Regarding Answer To Motion For Relief From The Automatic Stay And Abandonment?
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FAQ
A Motion for Relief from the automatic stay is basically a request from a creditor to the Bankruptcy Court for permission to take back collateral. Motions for Relief are set down for hearings before the Bankruptcy Court.If a creditor has good cause for filing the motion, it will be granted.
What is a motion for relief from the automatic stay? A motion for relief from the automatic stay, also called a stay relief motion, is a request a creditor can submit to the bankruptcy court to ask for permission to take certain collection actions against the person who filed bankruptcy.
The automatic stay in bankruptcy is a temporary federal injunction that immediately stops most collection efforts by creditors, collection agencies and government entities against debtors and their property.It merely suspends efforts to collect or proceed against those debts while a bankruptcy case is open.
However, under certain circumstances, creditors can ask the court to allow them to go ahead with collections in spite of the bankruptcy filing. This is called a Motion for Relief from Automatic Stay, and a successful one often negates the whole purpose of filing for Chapter 7 bankruptcy in the first place.
Order for relief refers to an actual court order determining that a debtor is subject to the control of the bankruptcy court. The Bankruptcy Code enables a debtor to obtain a discharge from all debts that arose before the date of the order for relief. A voluntary petition constitutes an order for relief.
Once a Chapter 13 bankruptcy petition is filed, the automatic stay goes into effect with the order of relief being entered on the filing date. It's this automatic stay that prohibits the creditors from taking any further action outside the bankruptcy to collect monies that are owed to them from the debtor.
The automatic stay goes into effect for only 30 days after you file bankruptcy. Two or more previous bankruptcy cases dismissed within the past year.
A motion for relief from the automatic stay is a creditor's way of asking the court for permission to eg. foreclose on a house or repossess a car. As soon as any type of bankruptcy is filed, an injunction called the automatic stay comes into place.
