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Will creditors negociate after filing Motion for Relief from Stay granted?
Wiki User
∙ 16y ago
Hopefully, most would do what they feel is most beneficial for them to get the best result, which is generally paid as much as possible as quickly as possible.
Wiki User
∙ 16y ago
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Can the creditor continue to collect after a 'Motion For Relief Of Stay' is granted?
Yes.
If a motion for relief of stay is granted for only one debtor what does the other debtor do?
Hard question to answer since...foolish me...I thought CREDITORS asked for relief from stay...a debtor would never want one to be granted and would normally oppose it strongly. (Relief from Stay STOPS the protection of the Court and law that prohibits creditors from proceeding with collection actions, like repossession or foreclosure or garnishment against the debtor). Not understanding that basic difference really means you really should have professional help in the case.
Creditor was granted relief of stay relief was for repossession and sale of car is the creditor entitle to seek money when their relief was for possession and sale of car only?
The motion for relief from stay only affects the creditor's right to proceed against the property that secures the debt. The creditor's right to be paid any deficiency after sale depends on the kind of bankruptcy. In a 7, no. In a 13, it depends on what the other unsecured creditors are getting.
What is relief of stay?
Filing a bankruptcy automatically "stays" almost all actions against the debtor. It gives the debtor a temporary hiatus from actions by creditors although it is not permanent and as the procedure progresses the debtor's property may eventually be distributed. A creditor's lawyer, especially a foreclosing bank, can seek a "relief from stay" by filing a motion with the court. If the motion is granted the creditor can go ahead and foreclose on the property and sell it to satisfy its debt. That usually happens when there is no equity in the property.
What is of relief?
Filing a bankruptcy automatically "stays" almost all actions against the debtor. It gives the debtor a temporary hiatus from actions by creditors although it is not permanent and as the procedure progresses the debtor's property may eventually be distributed. A creditor's lawyer, especially a foreclosing bank, can seek a "relief from stay" by filing a motion with the court. If the motion is granted the creditor can go ahead and foreclose on the property and sell it to satisfy its debt. That usually happens when there is no equity in the property.
Plaintiffs motion overrules motion for relief?
Not enough information contained in question.. Plaintiffs motion for WHAT? Motion for relief of WHAT?
Can you keep property if a motion for relief from automatic stay is entered?
If the motion is granted, the BK court is allowing the creditor to seize/take back the property, so no, you would not be allowed to keep the property
If a motion for relief of stay has been granted in a Chapter 13 case is there any defense?
The best approach would be to work with the Creditor's attorney to come up with some kind of agreement. You can also move to have the stay reimposed or ask the Judge to reconsider lifting the stay. If the motion for relief from stay has been granted, you no longer have a defense. The time to raise a defense would have been right after the motion was filed by obtaining a hearing date and opposing the motion. The creditor is not required to negotiate with you, but you should at least try again.
Can a property be assigned without court permission if a creditor in a Chapter 13 Bankruptcy decides to do something different than foreclose once a Motion for Relief from stay has been granted?
No.
Can you keep property if a motion for relief from automatic stay is not granted?
Yes, so long as you keep making the mortgage payments. If you stop paying, eventually the creditor will be allowed to foreclose on the property.
How do you proceed with a liability lawsuit against someone who has filed for bankruptcy to avoid penalties?
You can't, unless the liability is for fraud. You can file a motion for relief from stay, but it will not likely be granted. Unless the court grants you relief from the automatic stay, you cannot proceed. The liability will be discharged.
How do you say relief not granted in spanish?
alivio no otorgado
