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 ( .

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