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.
Nebraska 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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A Motion to Confirm Termination or Absence of Stay is a request for the court to determine whether or not the debtor is under the protection of an automatic stay. 11 U.S.C. § 362(c)(4)(A)(ii) and 11 U.S.C.
In most Chapter 13 Plans, the Debtor is required to make payments to their secured creditors outside the Plan. When these payments are not made, a secured creditor can file a Motion for Relief seeking relief from the Automatic Stay so they can take action against the collateral (i.e. your house or car).
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.
The automatic stay is an order that goes into place when you file for bankruptcy and stops most collection efforts. But the stay isn't absolute, and a creditor can ask the bankruptcy court to lift the automatic stay and allow collection efforts to resume. If successful, the creditor can continue pursuing its debt.
Refer to U.S.C. Section 362(c)(4) for specific guidance. A motion to reimpose the automatic stay is a request to reinstate the automatic stay after the order lifting the stay has been entered. This filing should be accompanied by the Motion and Proposed Order.
Generally, the stay automatically terminates on the earliest of: The case being closed or dismissed. The time a discharge is granted or denied.