My parents filed for chapter 7 bankruptcy on 1/31 as a result of a failed business and their home being extremely upside-down. They filed ( in Utah) on 1/31 to prevent their home from being auctioned in February. Their 341 meeting is Wednesday but the bank is now asking the court to lift the stay. Their attorney told them that there was no use appealing it or doing anything because they have no case. But from what we could find (on the internet), it seems like a way of slowing things down. The bankruptcy attorney said that the foreclosure process will start all over but I do not thing that is the case, and the fact that he is saying that makes me lose a little faith in his judgement.
I'm so frustrated that we can't seem to figure out what the timeline is for them needing to move out. They are devastated to lose their home, they'd hoped to retire there and now there life is a mess. Any info about if they should file anything (the court has given them until Monday), the amount of time they have, if things start over etc. would be greatly appreciated!
I'm so frustrated that we can't seem to figure out what the timeline is for them needing to move out. They are devastated to lose their home, they'd hoped to retire there and now there life is a mess. Any info about if they should file anything (the court has given them until Monday), the amount of time they have, if things start over etc. would be greatly appreciated!
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