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Can the creditor continue to collect after a 'Motion For Relief Of Stay' is granted?
Wiki User
∙ 17y ago
Yes.
Wiki User
∙ 17y ago
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Stay Motion to stop a deed in lieu of foreclosure by Creditor?
A creditor can petition for a stay motion. If it is granted, then you would not be able to proceed.
What does it mean when a creditor files a motion to release?
The creditor is asking to be excluded from the bankruptcy. If that is granted the debt will be valid and the creditor can resume collection action.
Why is a Motion for Relief from Stay is filed?
It is filed because a secured creditor (who has stopped receiving payments) wants to foreclose on the collateral of the loan/promissory note. It is filed because a BK filing prevents a creditor from trying any collection activity (the "stay"). So a creditor that wants to continue to collect/foreclose must seek court permission to do so- hence "relief" from "stay"
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.
What happens if the motion for relief from a stay is denied?
Bankruptcy protection remains in place and the creditor who was denied the stay will remain a part of the bankruptcy and cannot attempt to collect the debt owed.
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.
How long do you have to stay in the property once a motion of relief from debtor has been filed?
A preliminary hearing on the motion must be heard within 30 days of the date it is filed, unless that requirement is waived by the creditor. The motion could be granted at that hearing, or the court could set it for a final hearing, which must be heard within 30 days of the preliminary hearing. If the motion is granted, the creditor may then proceed with actions to remove you from the property. The creditor may have to foreclose, if it involves a secured claim. After foreclosure, and in the event it is a landlord-tenant situation, the creditor must file to evict you, if you do not move out voluntarily. That could take another 30 days, longer if you appeal. I have seen people who know how to game the system stay in property a year or longer.
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.
What is a motion hearing?
A motion hearing is where the attorney in an adversarial trial argues why his motion should be granted. The other attorney argues her reasons why the motion should not be granted.
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.
Can the creditor that filed motion for relief get any money?
Yes.
