Personal Bankruptcy Bankruptcy

[JIMT]

What is meant by "relief of stay"?

 

[Michael Wechsler]

A "Relief of Stay" is sometimes granted to certain creditors in order to be able to pursue a debtor who files for bankruptcy and where all actions against the debtor are "stayed" or stopped. An order for relief will suspend the stay against the creditor, who will be allowed to pursue the debtor.