automatic stay

automatic stay
automatic stay n: a stay that comes into operation upon the filing of a bankruptcy petition in accordance with bankruptcy law that prevents creditors from attempting to collect from the debtor for debts incurred before the filing

Merriam-Webster’s Dictionary of Law. . 1996.

automatic stay
An injunction that goes into effect automatically when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting agencies of an unpaid debt.
Category: Bankruptcy, Foreclosure & Debt → Bankruptcy

Nolo’s Plain-English Law Dictionary. . 2009.

automatic stay
USA
automatic stay, Also known as stay.
An injunction that immediately stops substantially all collection and enforcement actions by creditors against the debtor in a bankruptcy. It is effective automatically once the bankruptcy petition is filed. There are a number of exceptions, including certain criminal matters and domestic support obligations, which are not enjoined by the automatic stay as a matter of public policy. Matters arising after the filing of the petition are not stayed.
For further information, see Practice Note, Automatic Stay: Lenders' Perspective (www.practicallaw.com/9-380-7953).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


automatic stay
=>> stay.

Webster's New World Law Dictionary. . 2000.

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