Automatic Stay is the thing that is automatically done when you file bankruptcy. It protects the assets of the bankruptcy estate.
It prevents collection attempts.
It stops foreclosure / evictions.
A motion for relief from automatic stay is filed by a creditor when they want to foreclose, continue foreclosure, eviction, reposession, etc.
Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
Motion for Relief of Stay - a motion filed with the Bankruptcy Court from a creditor that asks the court to allow the creditor to proceed with any collections upon property that was put on hold due to bankruptcy Withdrawl of motion for relief - creditor tells the court "never mind" basically on the motion that was filed for a variety of reasons. An example of a reason to withdraw would be that a motion for relief was filed in error because a debt is actually current, not in default.
A stay is like a legal "hold" placed for a purpose. If the party that is "held" objects to the "hold" placed on it by a court, that party can petition the court for relief from the stay. They can ask, can make a motion, that the stay be lifted. That's the motion of relief from the stay. If the court then reviews the motion and decides not to "change its mind" regarding the reason it issued the stay, the court will dismiss the motion for relief from the stay. The stay will remain in place.
That the creditor's interest in the property is somehow "adequately protected." Typically, by making payments.
When you filed your bankruptcy, the court issued an automatic stay which prevents any creditor from moving forward with collection efforts. For whatever reason, this particular creditor wants to proceed with collection and it must request the permission of the bankruptcy court by filing the motion for relief from automatic stay.
We have a lawyer but he has not contact us back. We are behind on the mortgage.
If the motion is granted, the BK court is allowing the creditor to seize/take back the property, so no, you would not be allowed to keep the property
You file an objection to the motion for relief.
You can't, unless the liability is for fraud. You can file a motion for relief from stay, but it will not likely be granted. Unless the court grants you relief from the automatic stay, you cannot proceed. The liability will be discharged.
Relief allows the creditor to continue collection actions/foreclosure/repossession.
If relief from automatic stay has been lifted against you, the creditor may now proceed to collect the debt.
Yes, so long as you keep making the mortgage payments. If you stop paying, eventually the creditor will be allowed to foreclose on the property.
Yes.
In 37 years of bankruptcy practice, i have never seen a "No Opposition Order." If no opposition to any motion is filed, after the time allowed for such oppositions, the court issues an order allowing the motion, stating that no opposition was filed.
no, the stay is created when you file BK and ends when the BK is discharged.
In bankruptcy law, an automatic 'stay' is an order goes into effect when a person files for bankruptcy. It prohibits creditors from taking certain actions against you including foreclosure proceedings. The stay gives the court time to gather all the information it needs to make a fair distribution of bankruptcy assets. The automatic stay can be lifted from certain property by the court so that property can be sold. Lenders frequently request relief from the automatic stay so a foreclosure can proceed. That relief is often granted and property can be sold."Remove from stay" is a way to say that the bankruptcy court has allowed a motion to sell the property at a foreclosure sale.