This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Discuss the consequences a creditor may face for violating the Automatic Stay. Who has the burden of ... (Read 124 times)

WhattoUnderstand

  • Hero Member
  • *****
  • Posts: 517
on: Aug 3, 2018
Discuss the consequences a creditor may face for violating the Automatic Stay. Who has the burden of proof in this type of situation? Are all bankruptcy debtors entitled to recover damages in situations where a creditor has violated the provisions of the Automatic Stay?
 
  What will be an ideal response?

Question 2

What is the Automatic Stay and what effect does it have on a bankruptcy case? How does the Automatic Stay protect both debtors and creditors? How long does the Automatic Stay generally last? Be sure to describe the types of cases that are stayed in a typical consumer bankruptcy case.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

allisonblackmore

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Aug 3, 2018
Answer to Question 1

The sanctions for violating the Automatic Stay are found in 11 U.S.C. 362(k), under which, an individual debtor who is injured by a willful violation of the Automatic Stay provisions of 362 is entitled to recover actual damages, costs, and attorney's fees as well as punitive damages in some cases. This section of the Bankruptcy Code, however, only applies to individuals, so a corporation may not recover damages. The debtor has the burden to prove that the creditor violated the Automatic Stay.

Answer to Question 2

The Automatic Stay typically terminates 90 to 100 days after the bankruptcy petition is filed in no asset cases filed under Chapter 7 of the Bankruptcy Code. In Chapter 13 cases, however, the Automatic Stay remains in effect for the duration of the matter. Automatic Stay is an injunction against the debtor's creditors and claimants that stops all court lawsuits and collection efforts against the debtor while the bankruptcy case is pending.


WhattoUnderstand

  • Member
  • Posts: 517
Reply 2 on: Aug 3, 2018
Excellent

emsimon14

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

The average person is easily confused by the terms pharmaceutics and pharmacology, thinking they are one and the same. Whereas pharmaceutics is the science of preparing and dispensing drugs (otherwise known as the science of pharmacy), pharmacology is the study of medications.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

All Muslims must face Mecca, Saudi Arabia, to pray. Here, the minaret of a mosque is aligned with Me All Muslims must face Mecca, Saudi Arabia, to pray. Here, the minaret of a mosque is aligned with Me
Proper placement and monitoring of an automatic blood pressure cuff will reduce the risk of injury o Proper placement and monitoring of an automatic blood pressure cuff will reduce the risk of injury o
Brain Activation During a Face Recognition Task Brain Activation During a Face Recognition Task
Potential Consequences of Estrogen Loss Related to Menopause Potential Consequences of Estrogen Loss Related to Menopause
Major muscles of the face and head. Major muscles of the face and head.
Locations of key energy meridians and acupoints for the back, shoulder, arm, neck, head, and face. Locations of key energy meridians and acupoints for the back, shoulder, arm, neck, head, and face.
Video: Introduction to Dysrhythmia

For a complete list of videos, visit our video library