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lift the automatic stay |
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lift the automatic stay In bankruptcy, all collection activities by creditors must cease as soon as the creditor receives notice of the bankruptcy proceeding.This is called the automatic stay.Creditors may proceed with foreclosure or repossession of collateral only if they obtain permission from the bankruptcy judge to do so.That request is called a request to lift automatic stay,the process is called lifting the stay. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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