When Does the Automatic Stay Terminate
By Nicholas Ortiz, Boston Bankruptcy Attorney on Nov 21, 2008 in Automatic Stay In Bankruptcy, Featured
Once imposed, automatic stay requiring a stop to almost all debt collection activity against the debtor and his property remains in effect until the earliest of the following events:
1. The case is closed;
2. The case is dismissed;
3. Or the debtor is granted or denied a discharge.
The stay may also be lifted by order of the court upon request of a property for, among other things, the lack of adequate protection.
After the stay lifts, by operation of law or special order, it is important to remember that property exempted in a bankruptcy generally remains protected from pre-petition debts, even if these debts were held to nondischargeable in the case.
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