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Condominiums, Homeowners’ Associations and Bankruptcy: The Automatic Stay

/ Owner - June 4, 2021

In the last installment of the series, I went through some of the terms that Associations need to know when a Unit Owner files for Bankruptcy. This edition will talk about the “Automatic Stay” and how it affects Creditors like an Association. The first thing to remember is that Bankruptcy is a way to allow people who have debts to get a fresh start. The Automatic Stay gives Debtors some cooling off time. It is a period where Debtors do not have to worry about anyone trying to collect against them.  Read the entire article……………………………….

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