[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Judge's Name] [Judge's Designation] [Delaware Bankruptcy Court] [Address] [City, State, ZIP] Subject: Request to Sign Order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, and Application Dear Honorable [Judge's Last Name], I hope this letter finds you in good health and spirits. I am writing to respectfully request your signature on an Order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay and the accompanying Application, both of which are enclosed with this letter. [Type 1: Letter for Personal Bankruptcy Case] If it pleases the court, I am writing this letter on behalf of [Debtor's Name], who has recently filed for personal bankruptcy under Chapter [Chapter Number] of the United States Bankruptcy Code. As the authorized representative of the debtor, I am hereby requesting your approval and signature on the proposed Order and Application. It is the debtor's intent to voluntarily agree to relinquish their security interests and rights to redeem certain property, as described in the attached documents. [Type 2: Letter for Business Bankruptcy Case] Respectfully, I am writing this letter on behalf of [Company Name], a business entity currently undergoing Chapter [Chapter Number] bankruptcy proceedings. With the company's authorization, I hereby request your approval and signature on the Order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, as well as review and consideration of the accompanying Application. The business intends to surrender its security interests and rights to redeem specified assets, as detailed in the enclosed documents. The proposed Order and Application provide comprehensive details regarding the debtor's agreement to surrender the security interests and waive their rights to redeem the respective property. It is essential for these documents to be reviewed and signed by your esteemed authority, as this will enable the debtor to proceed with their bankruptcy process in compliance with the governing laws and regulations. The debtor believes that relinquishing security interests and waiving the right to redeem the mentioned property will result in a fair resolution for all parties concerned, and it will contribute to the expeditious resolution of the bankruptcy case. The submitted documents have been drafted with due diligence, taking into account the best interests of all stakeholders involved. Should Your Honor have any questions, concerns, or require any additional information, please do not hesitate to contact me at the provided phone number or email address. I will be readily available to provide any assistance or clarification necessary for considering and processing this request. Thank you for your attention to this matter, and I eagerly await your favorable response. Your signature on the proposed Order and Application will greatly assist in facilitating a smooth and efficient progression of the debtor's bankruptcy case. Respectfully yours, [Your Name]
Delaware Sample Letter regarding Request to sign order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, and Application
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How to fill out Delaware Sample Letter Regarding Request To Sign Order For Agreed Relinquishment Of Security And Right To Redeem Motion To Lift Automatic Stay, And Application?
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FAQ
A borrower's pre-bankruptcy waiver of the automatic stay is more likely to be enforced if contained in a forbearance agreement or an agreement approved by the court in a previous bankruptcy case.
Filing a Motion and Setting a Hearing Date -- A Motion for Relief from the Automatic Stay is commenced by filing the appropriate motion and setting the motion for a hearing date. To file a Motion for Relief from the Automatic Stay, the Local Bankruptcy Rules require parties to use mandatory forms.
Key Takeaways. An automatic stay stops creditors from trying to collect debts from a debtor who has filed for bankruptcy until court proceedings are completed. Creditors, collection agencies, and others who violate the automatic stay can be sued by the debtor.
A secured creditor may obtain relief from the automatic stay for acts against property if both the: Debtor does not have equity in the property. Property is not necessary to an effective reorganization.
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.
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.
Two main methods exist for fighting a motion for relief from automatic stay. These types are ?procedural? and ?substantive? objections. Basically, procedural objections challenge the manner in which the motion was filed, while substantive objections challenge the actual substance of the motion.
