Are there any exceptions to the automatic stay issued when filing for bankruptcy?

Yes, there are certain exceptions to the automatic stay issued when filing for bankruptcy in Oklahoma. The automatic stay is a legal order that prohibits creditors from taking any further action against a debtor while the bankruptcy case is pending. However, there are certain issues that are exempt from the automatic stay, including: 1. Actions to collect child or spousal support payments; 2. Actions by the IRS for collection of taxes; 3. Actions to collect a student loan debt; 4. Actions to enforce a criminal penalty or fine; 5. Actions to set aside property that was fraudulently transferred; 6. Actions by a government agency in relation to a bankruptcy case; and 7. Actions by a creditor to repossess or retake possession of collateral. In addition, the automatic stay does not prevent certain actions related to criminal proceedings against the debtor, such as issuing search warrants. It also does not prevent creditors from filing motions to modify the automatic stay. Finally, creditors may be able to seek relief from the stay by filing a motion with the court. The automatic stay is an important protection for debtors, but there are a few exceptions. It is important for debtors to understand these exceptions so they can make informed decisions when filing for bankruptcy in Oklahoma.

Related FAQs

What is the meaning of a bankruptcy discharge?
What debts are dischargeable in bankruptcy?
Will bankruptcy discharge the entire amount of debt owed?
What is bankruptcy?
Can I file for bankruptcy to stop creditor harassment?
What is the difference between a voluntary and involuntary bankruptcy filing?
What are the advantages and disadvantages of filing for bankruptcy?
How do I know if I qualify for a Chapter 13 bankruptcy?
What will happen to my co-signers if I file for bankruptcy?
Does bankruptcy eliminate liens?

Are there any exceptions to the automatic stay issued when filing for bankruptcy?

Related FAQs

Related Blog Posts