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Automatic stay
| Bankruptcy in the United States |
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| Bankruptcy in the United States |
| Chapters |
| Aspects of bankruptcy law |
In United States bankruptcy law, an automatic stay is an automatic injunction that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code,[1] the stay begins at the moment the bankruptcy petition is filed. Secured creditors may, however, petition the bankruptcy court for relief from the automatic stay upon a showing of cause.[2][3]
- ^ 11 U.S.C. § 362
- ^ "Automatic Stay, What Is It And Does It Protect A Debtor From All Creditors?". United States Bankruptcy Court, Central District of California. Retrieved January 22, 2020.
- ^ "Automatic Stay Definition". Investopedia. Retrieved February 23, 2012.
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