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What does it mean when I receive a letter stating "Order Vacating Automatic Stay"?
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Automatic Stay: An injunction automatically issued by the bankruptcy court when a debtor files for bankruptcy. The automatic stay prohibits most creditor collection activities, such as filing or continuing lawsuits, making written requests for payment, or notifying credit reporting bureaus of an unpaid debt.
A motion to lift stay is an application that a creditor brings in which the creditor asks the court to lift the protection of the bankruptcy proceeding. The Order vacating the automatic stay granted the creditor the right to lift the stay.
Once the stay is lifted, the creditors have the right to continue its collection efforts.
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