Bankruptcy Code Section 362

The latter requirement is contained in section 362 d 2.

Bankruptcy code section 362. 11 usc 362. This section is intended to solve the problem of real property mortgage foreclosures of property where the bankruptcy petition is filed on the eve of foreclosure. Home chapter 3 case administration sections 301 to 366 subchapter iv administrative powers section 362 automatic stay.

Automatic stay under 11 u s. United states bankruptcy code 2019 edition. The automatic stay under section 362 of the bankruptcy code protects debtors from ongoing collection efforts during the pendency of the bankruptcy case against property included in the bankruptcy estate.

The provision stays the commencement or continuation of any proceeding concerning the debtor before the u s. Tax court section 362 b 4 indicates that the stay under section 362 a 1 does not apply to affect the commencement or continuation of an action or proceeding by a governmental unit to enforce the governmental unit s police or regulatory power. If the debtor files for bankruptcy under chapter 13 the automatic stay extends to any individual who is liable on a consumer debt with the debtor.