A Motion for Relief from Stay Regarding Collateral — Passive Notice is a legal document used in bankruptcy proceedings in which a creditor seeks permission from the court to take possession of a debtor's property that is used as collateral for a loan. This type of motion is generally used when the debtor has failed to make payments on the loan or has otherwise defaulted on the terms of the agreement. There are two types of Motion for Relief from Stay Regarding Collateral — Passive Notice: the "active" and "passive" notices. The active notice requires the debtor to respond to the motion within a certain period of time, whereas the passive notice does not require the debtor to respond. If the debtor fails to respond to the motion within the prescribed period, the court may grant the creditor's motion and allow them to take possession of the collateral.
Motion for relief from stay regarding collateral - passive notice
Description Stay Notice Order
How to fill out Motion For Relief From Stay Regarding Collateral - Passive Notice?
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Civil cases involving family or domestic issues - Most family court proceedings cannot be halted by the automatic stay, including child custody and paternity cases, as well as divorce cases addressing issues other than the division of marital property.
A Chapter 11 bankruptcy allows a company to stay in business and restructure its obligations. If a company filing for Chapter 11 opts to propose a reorganization plan, it must be in the best interest of the creditors. If the debtor does not put forth a plan, the creditors may propose one instead.
What are the exceptions to the automatic stay under 11 U.S.C § 362? Establishing paternity; Establishing or modifying domestic support obligations, including child support and alimony; Child custody or visitation matters; Divorce proceedings; Domestic violence matters.
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 remains in effect until the case is closed or dismissed or, in an individual case, until the granting or denial of the debtor's discharge, whichever happens first. Creditors may file a Motion for Relief from the Automatic Stay requesting the stay be lifted to allow them to pursue their legal rights.
The automatic stay provides a period of time in which all judgments, collection activities, foreclosures, and repossessions of property are suspended and may not be pursued by the creditors on any debt or claim that arose before the filing of the bankruptcy petition.
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 most commonly 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