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Then the secured creditor would most likely foreclose on the property.
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∙ 13y ago
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What do you think happens in the next Naruto manga's?
The current manga chapter is 463, In the next manga, I believe that Sasuke will win against Raikage.
What is the next step after the automatic stay is lifted?
AnswerAn automatic stay stops creditors from proceeding against you, either garnishing wages or siezing property. I think after the automatic stay is lifted, the creditor requesting that the stay is lifted, can proceed against you for the item they want back.Once the stay is lifted [granted] by the Bankruptcy Court, the creditor is free to take whatever action is appropriate to recover and sell the property. If the debtor is granted a discharge in bankruptcy, the debtor will not be required to pay to the creditor any deficiency amount that results if the sale of the collateral does not generate enough money to pay the debt in full.Further it also depends on how you respond after lifting of stay, if you do not make any payment, creditor may continue with his course of action. It is always better filing proper reply to the motion to lift the automatic stay.An experienced Attorney would assist you in all these aspects.
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