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An 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.
What else can I help you with?
When was The Miners' Next Step created?
The Miners' Next Step was created in 1912.
What word can be put in front of step?
The word "next" can be put in front of "step" to form the phrase "next step."
How do you remove the radiator from a Honda Civic?
It can be very simple to remove the radiator from a Honda Civic. The first step is to drain the coolant from the radiator. The next step is to disconnect the cooling fan switch and remove the hoses. Then the cooling fan should be removed. Then the radiator should be unbolted and lifted carefully from the vehicle.
When did The Next Step - TV series - end?
The Next Step - TV series - ended in 1996.
What is the next step up from catholic priest?
The next step up after priest is a Canon.
What is the next step in rounding?
Tell us what step you're at; we'll tell you the next one.
Can somebody tell me what's my next step in life?
Anybody can tell you what your next step is but it is best to figure that out for yourself. Of course, that is just someone telling you what your next step is.
Are there any real relation ships in the next step?
are there any real relationships in the next step
When was The Next Step - TV series - created?
The Next Step - TV series - was created in 1991.
When was The Next Step - Rosenwinkel album - created?
The Next Step - Rosenwinkel album - was created in 2001.
What is next step after receiving a 10 day notice to quit?
Respond to it: either pay the rent or move out. If you stay your landlord will file eviction proceedings against you.
After controls are implemented what is the next step in the CRM process?
After controls are implemented the next step is to supervise and evaluate.
