How many days after filing/341 meeting is the automatic stay in place? If a creditor requests a lift, when what is the timeline?
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Originally posted by nerves View PostPay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer. -
Thanks so much! This is some relief! I have a vehicle I am concerned with the bank wanting to have the stay lifted. From my understanding, it really won't be to the benefit of the bank to file for the lift due to the timing (they really won't be farther ahead). Thanks again Ms. BK!!!Comment
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Why does the bank want the stay lifted? Are you making payments on the vehicle? Which chapter are you in?Originally posted by nerves View PostPay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.Comment
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It is nothing short of being a mess! We used two vehicles as collateral for our business loan. The banker showed at our 341 on Monday and they didn't have a clue. I really think she thought they were going to be able to take possession of them that day. Needless to say she has a brain the size of an ant. The trustee put her in her place which made my day. After the meeting, we were outside with our legal advisor and the trustee came up to us and asked how could we deal with her. I can see the banker going to their lawyer to start proceedings to have the stay lifted. We filed a 7.Comment
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The vehicles were paid in full when put up for collateral and we were up to date with the business loan payment until last week.Comment
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Yes, you're probably right. You have three options with repsect to collateral that secures a debt: Reaffirm, Redeem or Surrender. If you're not making the payments on the collateral, the stay will be lifted in all liklihood.Originally posted by nerves View PostPay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.Comment
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I have been resisting the urge to use pacer but I am almost ready to give into temptation to keep track of the actions with the bank. Thanks again Ms. BK - as always you have been a great help.Comment
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