Wisconsin Notice of Motion To Continue The Automatic Stay is a document used by debtors in Wisconsin bankruptcy cases to request an extension of the automatic stay. The automatic stay is a court order that prevents creditors from taking action against the debtor. By filing a Notice of Motion To Continue The Automatic Stay, the debtor is asking the court to extend the automatic stay so that creditors will not be able to take action while the debtor's case is being resolved. There are two types of Wisconsin Notice of Motion To Continue The Automatic Stay: the First Notice of Motion and the Second Notice of Motion. The First Notice of Motion is filed when the debtor is filing for bankruptcy for the first time and requests an extension of the automatic stay for a period of up to 120 days. The Second Notice of Motion is filed if the debtor has previously filed for bankruptcy and is requesting an extension of the automatic stay for a period of up to 90 days. Both types of Wisconsin Notice of Motion To Continue The Automatic Stay must include the debtor's name, address, case number, and the court in which the case is filed. The Notice must also include the amount of time requested for the extension of the automatic stay, the names of all creditors involved, and the reasons why the extension is necessary.
Wisconsin Notice of Motion To Continue The Automatic Stay
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FAQ
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.
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. Bankruptcy Code Section 362 discusses the Automatic Stay.
Individuals may use a chapter 13 proceeding to save their home from foreclosure. The automatic stay stops the foreclosure proceeding as soon as the individual files the chapter 13 petition. The individual may then bring the past-due payments current over a reasonable period of time.
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
The Stay Has Been Lifted ? Now What? Once a creditor gets a court order lifting the automatic stay, they are allowed to move forward with foreclosure or repossession of the property that secures the debt. That said, the creditor still needs to follow state law for their collection or eviction proceedings.
Because of the duration of the court case, a Chapter 7 automatic stay often lasts for three to four months. In contrast, the automatic stay remains effective on Chapter 13 bankruptcy cases throughout the duration of the debtor's repayment plan, assuming they comply with the terms.
First, once a person files a bankruptcy petition, the automatic stay immediately stops the bank from foreclosing on, or repossessing, the debtor's real or personal property. Examples include the debtor's home or her car. The automatic stay doesn't allow the debtor to avoid mortgage or car payments.
An automatic stay stops creditors from trying to collect debts from a debtor who has filed for bankruptcy until court proceedings are completed. Creditors, collection agencies, and others who violate the automatic stay can be sued by the debtor.