What is a Section 362 proceeding?
A Motion for Relief from the Automatic Stay and a Section 362 Proceeding are the same thing. A Motion for Relief from the Automatic Stay is essentially a request by a secured creditor for the bankruptcy judge’s permission to repossess or foreclose on property. If you receive a copy of a Motion to Lift Stay on property you do not want to keep, simply contact our office and let us know that you do not want to keep the property. Also, send a written statement to our office stating your intention to surrender that particular asset. IF YOU RECEIVE A MOTION FOR RELIEF FROM THE AUTOMATIC STAY ON PROPERTY YOU WANT TO KEEP, MAKE AN APPOINTMENT TO SEE YOUR ATTORNEY AT ONCE! There are very short time limits on answering such a motion and once the deadlines are passed, there is nothing we can do to help you.
