Lender files Motion from Relief of stay

[silver]

I searched through the forums for an answer to my question but I could not find one.

The last day for creditor objections in my ch7 no asset case is June 13. I've already had a report of no distribution and so far it has been complete silence until now.

I surrendered a couple of investment properties. I just received a letter that the lender of one of the properties filed a Motion from Relief of the automatic stay and a hearing is set for Jun 14. I have no interest in keeping this property.

My question is what does this mean and is it going to delay my discharge date? The sixty day deadline is June 13 and the hearing is set for June 14. Can I get discharged before the hearing happens? Should I be concerned?

Thanks for any input

[sh9730]

As I understand it, this shouldnt be any big deal. They just cant legally do anything (even if your intention) to start to foreclose on the property until either discharge or get the stay lifted. Im not sure why they are bothering since their hearing date is before your probable discharge, BUT, in case discharge is delayed for any reason, they will be able to move forward.

Others may understand better....

[DAE]

Silver, if you search the term "motion to lift stay" you will find quite a few Threads on this. I was looking at this very issue today. The motion is just the legal process the lenders must go through to get out from under the automatic stay that was put in place when you filed. As I understand it, lenders will sometimes file these motions even near the discharge or closing dates to make sure they get the stay lifted and aren't caught up in any delays. (Some will argue that the lender's attorney will file these motions even with the normal lifting of the stay looming in order to pad their legal fees. You would think that the lender would just wait until your stay was automatically lifted in a few weeks, but that's not always the way it works.)

I too am facing such a motion to lift...and if you are planning on surrendering the property, the hearing will have no impact on you and may actually benefit you by getting the property out of our name faster (which may save you insurance costs and HOA fees).

It will not delay your discharge nor will it impact the bankruptcy in any other way. It's not uncommon for motions or other bankruptcy hearings to occur after discharge.

[silver]

Silver, if you search the term "motion to lift stay" you will find quite a few Threads on this.

I guess I was using the wrong key words for the search. Sorry about that.


Thanks a lot for the info. I was really worried that my case will get delayed and because I am also dealing with a security clearance at my job I need my bk to be discharged asap.

[debee]

I guess I was using the wrong key words for the search. Sorry about that.

Not to worry. I'm sure DAE was only mentioning the search terms to help you find even more help.