What is the automatic stay?

Описание: What is the automatic stay? | Richard L. Ravin, Esq. | Hartman & Winnicki, PC | http://www.ravin.com/ | (201) 967-8040 | Offices in New Jersey & New York

Section 362(a) of the Bankruptcy Code provides that there is an automatic stay that commences at the beginning of the case against recovering for any claims by a creditor for any pre-petitioned debt. This means that once the bankruptcy case is filed, a creditor cannot take any action against the debtor to recover debts that arose prior to the filing of the bankruptcy, and this would include property that is owned by the debtor.

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