Answers.com > Wiki Answers > Categories > Law & Legal Issues > Bankruptcy Law > What is dismiss motion for relief from stay?

What is dismiss motion for relief from stay?

In: Bankruptcy Law [Edit categories]

Answer:

Answer

A stay is like a legal "hold" placed for a purpose. If the party that is "held" objects to the "hold" placed on it by a court, that party can petition the court for relief from the stay. They can ask, can make a motion, that the stay be lifted. That's the motion of relief from the stay. If the court then reviews the motion and decides not to "change its mind" regarding the reason it issued the stay, the court will dismiss the motion for relief from the stay. The stay will remain in place.

Note: There are comments associated with this question. See the discussion page to add to the conversation.

First answer by Quirkyquantummechanic. Last edit by Quirkyquantummechanic. Contributor trust: 3700 [recommend contributor ]. Question popularity: 31 [recommend question].

[report abuse]

Can you answer these Bankruptcy Law questions?

	Can you keep your paid off cars when you file a chapter 7 bankruptcy?	Answer it!
	What if a credit card collection agency is threatening legal action and it will force me into bankruptcy should I file bankruptcy prior to his action?	Answer it!
	How is an euro subdivided?	Answer it!
	Does bankruptcy void a judgement?	Answer it!
	How soon after bankruptcy can you buy a house?	Answer it!

Relevant answers:

Why is a Motion for Relief from Stay is filed?
It is filed because a secured creditor (who has stopped receiving payments) wants to foreclose on the collateral of the loan/promissory note. It is filed because a BK filing prevents a creditor from...
What is a motion for relief from the automatic stay?
Automatic Stay is the thing that is automatically done when you file bankruptcy. It protects the assets of the bankruptcy estate. It prevents collection attempts. It stops foreclosure / evictions. A...
What is a withdrawal of motion for relief of stay?
Motion for Relief of Stay - a motion filed with the Bankruptcy Court from a creditor that asks the court to allow the creditor to proceed with any collections upon property that was put on hold due...
How do you respond to a motion for relief of stay?
By filing a motion in opposition to relief of stay.
What is a Motion for Relief from Stay?
Automatic stays occur under section 362(a) of the Federal Bankruptcy Code. Relief from the stay can be granted under Section 362(d). Usually it is secured creditors who want to foreclose on a piece...