Section 362 Bankruptcy Code

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.

Section 362 bankruptcy code. The provision stays the commencement or continuation of any proceeding concerning the debtor before the u s. 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. Home chapter 3 case administration sections 301 to 366 subchapter iv administrative powers section 362 automatic stay.

The latter requirement is contained in section 362 d 2. 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. Section 362 automatic stay a.

United states bankruptcy code 2019 edition. When a court does not timely hear and respond to a creditor s request for relief from the 362 a bankruptcy stay 362 e gives the creditor automatic relief in as little as 30 days without needing to succeed on any substantive arguments.