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Can you keep property if a motion for relief from automatic stay is not granted?
Wiki User
∙ 12y ago
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.
Wiki User
∙ 12y ago
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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
Can the creditor continue to collect after a 'Motion For Relief Of Stay' is granted?
Yes.
What is removed from stay from your mortgage?
In bankruptcy law, an automatic 'stay' is an order goes into effect when a person files for bankruptcy. It prohibits creditors from taking certain actions against you including foreclosure proceedings. The stay gives the court time to gather all the information it needs to make a fair distribution of bankruptcy assets. The automatic stay can be lifted from certain property by the court so that property can be sold. Lenders frequently request relief from the automatic stay so a foreclosure can proceed. That relief is often granted and property can be sold."Remove from stay" is a way to say that the bankruptcy court has allowed a motion to sell the property at a foreclosure sale.
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 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 keep property if a motion for relief from automatic stay is granted by bk court?
sorry idk but i answered cause i know a website. go to bkcourts/questionss.org i dont know if it is still a real website. i heard of thiswebsite in 2010. So i hope i helped. Btw i was dared to do this and that the double s is on purpose. -Ag
What is a motion for relief from the automatic stay?
Automatic Stay is the thing that is automatically done when you file bankruptcy. It protects the assets of the bankruptcy estate. It prevents collection attempts. It stops foreclosure / evictions. A motion for relief from automatic stay is filed by a creditor when they want to foreclose, continue foreclosure, eviction, reposession, etc. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.
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.
What does motion for relief relief from stay fee amount 150.00 filed by creditor Iowa law?
When you filed your bankruptcy, the court issued an automatic stay which prevents any creditor from moving forward with collection efforts. For whatever reason, this particular creditor wants to proceed with collection and it must request the permission of the bankruptcy court by filing the motion for relief from automatic stay.
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 you get automatic stay back after the mortgage company file for motion relief?
We have a lawyer but he has not contact us back. We are behind on the mortgage.
