Glossary of Bankruptcy

CODEBTOR STAY

co-debtor stay: translation

co-debtor stay
In Chapter 13, there is an automatic stay that prevents actions against guarantors or co-signers of consumer obligations of the debtor.
If a mother co-signs a son's car loan and the son files a Chapter 13 petition, the co-debtor stay will prevent the loan company from collecting from the mother, during the case. (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms2012.

co-debtor stay
In Chapter 13, there is an automatic stay that prevents actions against guarantors or co-signers of consumer obligations of the debtor.If a mother co-signs a son's car loan and the son files a Chapter 13 petition, the co-debtor stay will prevent the loan company from collecting from the mother, during the case.

US Bankruptcy2012.


  1. codebtor stay—эк. юр. амер. остановка для содолжникаu запрет кредитору после возбуждения дела о банкротстве пытаться взыскать сумму долга с содолжника или гаранта обанкротившегося лица...Англо-русский экономический словарь