Automatic stay means that your creditors must stop all collection proceedings against you for the time being. The creditors should then file a proof of claim with the court so that they basically get in line when the funds are dispersed. Some creditors will file motions for relief in which they are asking that they be able to proceed with collecting on their debt. Sometimes it's granted, sometimes the creditor comes in with a compromise to allow the debtor time to repay in a structured way before they repossess the item in question.
automatic stay means all pending lawsuits current,pending,and appeals are stopped...and probably dismissed pending the outcome in bk courts. I had a judgment against a criminal...he appealed...then filed bk...wipped out judgment...his pennance is just having bad credit now for 10 years...it doesn't stop you from suiing them in other venues.
The automatic stay is a term you will find in every legal proceeding filed under the Bankruptcy Code. The automatic stay is the power behind the protection you receive when filing a bankruptcy case. It means that the moment you file for relief under bankruptcy, no creditor can take any action to collect a debt that you owe to them. This is powerful because it allows you the opportunity to take the driver's seat regarding all of your debts instead of the creditor controlling what they will do to you.
Some examples of acts to collect a debt that are stopped by the automatic stay include foreclosing on your house, repossessing your car, filing a lawsuit against you, garnishing your paycheck, freezing your bank account, sending you collection letters or constantly harassing you with collection phone calls.
Then the secured creditor would most likely foreclose on the property.
You are leaving out important information: when was the chapter 13 ended and why did it end? If the chapter 13 has not been closed or dismissed, the mortgage should not be in foreclosure unless you missed several post-petition payments and the mortgagee got relief from the automatic stay. You cannot have two bankruptcy filings open at the same time. If the chapter 13 was ended pursuant to a section of the bankruptcy code, you may be able to refile, but you may not have the benefit of the automatic stay. Consult a local bankruptcy lawyer.
You should file a claim in his/her Chapter 13 case; you may or may not get your money back. If you don't file a claim, you're out of luck; he/she is protected by the automatic stay while in Chapter 13, and by the discharge afterwards. (If you think it's fraud, consult an attorney.)
YES, its called an AUTOMATIC STAY. ALL collection efforts must stop as soon as they are notified of your filing.
PROBABLY if one is in a Chapter 13 and the stay is lifted, that debtor can convert to Chapter 7 and then re-file another Chapter 13 after the Chapter 7 discharge and reinstate the stay against the creditor who had the stay lifted in the prior Chapter 13. I say "probably" rather than "yes" for a few reasons: (1) Because the creditor could object to the new Chapter 13 and argue that the debtor is abusing the Bankruptcy Code, an argument the Court may or may not be swayed by; (2) If a debtor voluntarily dismisses a Chapter 13 once a Motion for Relief from Stay has been filed in the Chapter 13 case, that debtor is automatically barred from re-filing another Chapter 13 for 180 days (see 11 U.S.C. 109(g)(2)). So, the creditor may argue that conversion to Chapter 7 is akin to voluntary dismissal and so the debtor should be barred from filing another Chapter 13 for 180 days (I have no idea if such an argument would work for the creditor); and (3) Different districts may have different case law affecting the answer to this question, so it's probably best to consult a lawyer in your area. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
Nothing. In a chapter 13, there is a co-debtor automatic stay, but other than that, nothing.
If I file chapter 7 or 13 how long can I stay in my house?
It does not matter what state you filed your Chapter 13 Bankruptcy, as it was done in Federal Court, and these types of events stay on your credit for 10 years.
The co-debtor stay is applicable in chapter 13.
If you mean, can they be included in a chapter 13, the answer is, they must be. If you mean, can you file a chapter 13 because of garnishments and secured loan payment arrears, yes, that's what chapter 13 is for.
Ten years from the date of original filing.
Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.