How do you get around an automatic stay?

Usually, a creditor can get around the automatic stay by asking the bankruptcy court to remove ("lift") the stay. To avoid fines and penalties, the creditor must file a motion asking for permission to continue with collection efforts.

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Sample Letter regarding Request to sign order for Agreed...

Orange California Sample Letter regarding Request to sign order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, and Application

Name: Orange California Sample Letter regarding Request to sign order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, and Application
Brand: US Legal Forms
Rating: 4.87 (283 reviews)

Category:

Letters - Legal - Bankruptcy

State:

Multi-State

County:

Orange

Control #:

US-0343LTR

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This form is a sample letter in Word format covering the subject matter of the title of the form.

How to fill out Orange California Sample Letter Regarding Request To Sign Order For Agreed Relinquishment Of Security And Right To Redeem Motion To Lift Automatic Stay, And Application?

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FAQ

The automatic stay is an injunction that automatically stops lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed.

What happens if an Order for Relief is granted? Once an Order for Relief is granted, it is like the Automatic Stay no longer exists for that specific creditor. Now the creditor can contact the debtor through mailings, phone calls, or collection agencies.

Usually, a creditor can get around the automatic stay by asking the bankruptcy court to remove ("lift") the stay. To avoid fines and penalties, the creditor must file a motion asking for permission to continue with collection efforts.

Orders for prospective relief from the stay sometimes are specific to an item of property and purport to be in remto automatically entitle a lienholder to relief from the stay with respect to the property in any future bankruptcy case filed by this debtor or by any other debtor claiming an interest in the property.

The automatic stay is one of the fundamental debtor protections provided by the bankruptcy laws. It gives the debtor a breathing spell from his creditors. It stops all collection efforts, all harassment, and all foreclosure actions.

To obtain relief, the creditor must file a motion to request relief, which is usually done soon after the debtor files for bankruptcy. If grounds are shown for why the creditor should be granted a relief from stay, then notice must be sent to the relevant parties.

When relief from stay is granted, it does not remove the property from the bankruptcy estate or grant the creditor ownership of the property. It simply removes the stay and restores the parties to their state law rights. Creditors can then enforce those rights to the extent that the relief from stay order permits.

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.

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Orange California Sample Letter regarding Request to sign order for Agreed Relinquishment of Security and Right to Redeem Motion to Lift Automatic Stay, and Application

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How to fill out Orange California Sample Letter Regarding Request To Sign Order For Agreed Relinquishment Of Security And Right To Redeem Motion To Lift Automatic Stay, And Application?

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FAQ

What is automatic stay relief?

What happens when an order of relief is granted?

How do you get around an automatic stay?

What is prospective relief from stay?

What is the automatic stay rule?

What procedure is used for obtaining relief from the automatic stay?

What does Relief from Stay mean?

What does motion of relief mean?

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What is the purpose of the Orange Sample Letter?

Why do I need to sign the order for Agreed Relinquishment of Security and Right to Redeem?

What does the motion to lift automatic stay mean?

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Who should sign this sample letter?

What happens if I don't sign the order?

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