After the filing of a bankruptcy petition, the debtor needs protection from the collection efforts of its creditors. Therefore, the bankruptcy law provides that the filing of either a voluntary or involuntary petition operates as an automatic stay which prevents creditors from taking action against the debtor. This is similar to an injunction against the creditors of the debtor. The automatic stay ends when the bankruptcy case is closed or dismissed or when the debtor is granted a discharge. Anyone who willfully violates the stay in the case of an individual debtor can be liable for actual damages caused by the violation and sometimes liable for punitive damages.
Georgia Motion to Extend Automatic Stay and Notice of Motion
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How to fill out Motion To Extend Automatic Stay And Notice Of Motion?
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From a practical point of view, there are two ?types? of violations of the automatic stay that a filer deals with: (1) calls and/or debt collection letters, and (2) continuation of legal action, such as a pending lawsuit, garnishment, foreclosure or repossession.
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.
The automatic stay generally remains in place until the discharge is entered. Once that happens, you're no longer responsible for the unsecured debts incurred before your Chapter 7 was filed. The permanent protection from creditors provided by the discharge is much stronger than the automatic stay.
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.
Under Bankruptcy Code section 362(a), the "automatic stay" applies at the moment a bankruptcy petition is filed. This offers protection from creditors who must file a "Relief from Stay" motion to ask the judge to terminate the stay to take action against the debtor or debtor's property outside of the bankruptcy court.
The automatic stay remains in effect until your case is closed. But, of course, it isn't always that simple. For Chapter 7, it's often the case that a stay will last the 3-5 months the court case is open. For Chapter 13, bankruptcy cases could take anywhere from 3-5 years.
11 U.S.C. § 362(c)(4)(B). In situations where a debtor files a new bankruptcy petition but had one case dismissed within the previous year, the automatic stay is imposed for 30 days.
The most 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 and make ...