QUESTION
What can I do to stop the motion to remove the stay?
Asked on Nov 13th, 2012 on Bankruptcy - New Jersey
More details to this question:
I want to keep my car. I'm in chapter 7 bankruptcy. It stayed but dealership filed a motion to remove the stay.
7 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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The only way you can keep the car in a chapter 7 is to pay for it. Make arrangements to bring any arrears current and then show the Bankruptcy Judge that you are current. My best to you.
Answered on Nov 15th, 2012 at 5:13 AM
The best way to oppose a motion for relief from stay regarding a car is to come current on the payment on the car and then let the judge know this by filing a written opposition to the Motion for Relief from Stay 14 days before the hearing on the Motion.
Answered on Nov 15th, 2012 at 4:54 AM
Bankruptcy Attorney serving Myrtle Beach, SC
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Law Office of Margaret L. Evans, PC
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Question: What can I do to stop the motion to remove the stay? Question Detail: I want to keep my car. I'm in chapter 7 bankruptcy. It stayed but dealership filed a motion to remove the stay. *- the dealership most likely wants to have the automatic stay lifted so they can proceed to reclaim the car if you're behind; you might be better filing a motion to convert to a Chapter 13 if you have the disposable monthly income to support a confirmable plan. You should consult a lawyer about this ASAP - you MIGHT be able to "cram down" the value of the vehicle (get the loan balance reduced if certain conditions can be met) AND pay the arrearage through the plan*
Answered on Nov 15th, 2012 at 4:29 AM
Car lenders file a motion to lift stay for only one reason - the car payments are delinquent. Want to keep the car? Find a way to make up the back payments! You can discuss the possibility of an APO (Adequate protection Order) with the lender if you can't make up the entire past due amounts in cash. It is a bad time to have to walk when it is so cold outside.
Answered on Nov 14th, 2012 at 3:45 PM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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About all you can do is get caught up on the payments.
Answered on Nov 14th, 2012 at 3:35 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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If you want to keep the car you have to make the payments. When you do not make the payments, the car will eventually be repossessed. Make a deal with them to get the payments current.
Answered on Nov 14th, 2012 at 3:02 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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Talk to your attorney, but you have to show that you are or can get current and maintain being current.
Answered on Nov 14th, 2012 at 2:59 PM