The Facts of the Legal Fiction – Extending the Automatic Stay to Non
How long does the automatic stay remain in effect?
How Long Does an Automatic Stay Last? The automatic stay remains in effect until your case is closed.
But, of course, it isn't always that simple.
For Chapter 7, it's often the case that a stay will last the 3-5 months the court case is open.
What is 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.
- The scope of the “Property of the estate” protected by the automatic stay is very broad, encompassing all of the debtor's property and rights to property, and the Bankruptcy Code at 11 U.S.C. § 541 defines what is and is not property of the estate.
Because contractual indemnification is often one ground for a bankruptcy court to have jurisdiction to extend the automatic stay, guarantors, members, officers, Autres questions