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If the automatic stay is lifted and no foreclosure has been filed, one just needs filed as normal.
If the foreclosure was already filed and the automatic stay was lifted, the creditor simply informs the Court with the foreclosure that the stay was lifted and the case will resume.
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.
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∙ 16y ago
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If automatic stay is lifted what happens next in chapter 13?
Then the secured creditor would most likely foreclose on the property.
Releif from Automatic Stay?
If relief from automatic stay has been lifted against you, the creditor may now proceed to collect the debt.
Is bankruptcy and a county court judgment the same thing?
when automatic stay is lifted what can occur to the debtor?
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.
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.
If you are current in your chapter 13 and the stay that was lifted was supposed to be back in place can the mortgage company still foreclose?
The only way is try to negotiate a reaffimation agreement with the lender. However, if the house is not protected by the homestead exemption, it could still be in jeopardy.
What does automatic stay under title 11 mean concerning a repossessed car?
I'm assuming you are asking regarding a bankruptcy. An automatic stay is a utility of the court, that legally prevents contact with you from creditors after they have been notified of the bankruptcy proceedings. Once you file, the stay protects you and your proerty for as long as the stay exists. Once the BK is dismissed or discharged, the stay is lifted. While the stay is in effect, the vehicle cannot be involuntarily repossessed.
If mortgage was listed by pro se Chapter 7 debtor as secured debt with intent to reaffirm but the bank never presented reaffirmation agreement can the bank foreclose once the bankruptcy is discharged?
Yes. Or the lender could choose to file for the automatic stay to be lifted and if granted proceed with foreclosure action before the BK is discharged. _________________________________________ If a person is current on the payments, and stays current, there is NO violation of the mortgage contract, and the lender would not foreclose. Miss a payment or two, and it will be treated as any other delinquent account. But until then, the status quo is maintained, the Chapter 7 not relevant.
Can a creditor reposses my boat before the automatic stay is lifted in chapt 7?
No, that would be a violation, and the debtor should be able to recover damages for it. The debtor does have to file a motion for damages, however.
If a judge dismisses a chapter 11 proceeding without prejudice for lack of prosecution do creditors now have the automatic stay lifted and therefore can go after the business what's owed to them?
If the case is dismissed, for any reason (as opposed to discharged), the stay is ended.
What does it mean in court when a stay order is lifted?
This means that the stay order is no longer in affect.
What is the legal definition of a stay?
It is a temporary suspension of an action or process ordered by the court.ADDED: In the legal context, a stay is a court order preventing further action until a future event occurs, or the order is lifted. It is not necessarily, temporary.
