stay relief

Stay relief is a legal tool used in bankruptcy cases to temporarily halt or pause certain actions, like collection efforts or lawsuits, against a debtor. This pause allows the debtor time to reorganize, negotiate, or resolve financial issues without the pressure of ongoing legal or collection activities. Stay relief typically occurs when creditors seek to resume actions that were previously frozen by a bankruptcy stay, and a court may grant or deny this request based on the circumstances. Essentially, it offers debtors a breathing space during bankruptcy proceedings while balancing creditors' rights.