Repo/ relief of stay question.........

[TroubleinCalif]

Did a volentary repo on my car on august 11th. Today i got papers from Chase requesting a lift of stay. Since they already have the car for a month now, what is this about? Normal procedure?

Thanks.....

[Martha13]

Hi Trouble....Yep, normal procedure, nothing to worry about. We had the same thing with our car, our atty explained it's just the necessary steps the car co's need to do in order to proceed with business on their end. The court date will come and go with no one attending, the stay will be lifted, they'll complete the sale of the car, and as long as you've filed bk you will not be responsible for any deficiency.

[justbroke]

Yes, they must ask for Relief from the Automatic Stay because all property is the property of the Bankruptcy Estate and the Trustee can void the repossession!

The Bank is just following the process. Your lawyer will file a Response as "unopposed" once the Relief has been filed. The Trustee will also file an unopposed response. There probably not even need be a hearing on the matter (a motion without hearing)... or a conference call hearing at best. (Everyone's trying to save gas these days! My court does telephonic hearings often!)

Then the Bank can do what they want with the car (sell it). Until then, the Bank is smart and wise not to sell the car.

[Cali]

My relief of stay had a hearing but I didn't go. And I gave the SUV up a few days after it.