Phrases with «automatic stay»

The phrase "automatic stay" means that when someone files for bankruptcy, it temporarily stops most creditors from taking any action to collect debts or seize assets. It gives the person a break from debt collection while they work out a plan to repay their debts or seek bankruptcy protection. Full definition

automatic (parent phrase)
stay (parent phrase)

automatic stay

Related phrases

automatic stay in bankruptcy
automatic stay provisions

Sentences with «automatic stay»

Whenever a bankruptcy is filed, all collection activity must cease according to the bankruptcy's automatic stay provision. (betterbankruptcy.com)
Once you file bankruptcy — either Chapter 7 or Chapter 13 — automatic stay prohibits all of your creditors from taking any action to collect debt from you. (blgbankruptcy.com)
A federal appellate court has considered whether a consumer violated bankruptcy's automatic stay when the consumer filed a complaint with the state real estate commission against a licensee who was in bankruptcy. (nar.realtor)
(see all sentences)

Phrases with «automatic stay»

Related phrases

Sentences with «automatic stay»

See also