QUESTION
What does a Withdrawal of Motion for Adequate Protection that was filed with the Clerk of the Bankruptcy Court by one of our creditors mean?
Asked on Jun 28th, 2013 on Bankruptcy - Missouri
More details to this question:
My husband and I have filed chapter 13 bankruptcy but have not been to court yet.
4 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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You really need to talk to your bankruptcy attorney. Please understand that bankruptcy is a complicated process. A chapter 13 bankruptcy is extremely complicated. It is wise to talk to an chapter 13 experienced bankruptcy attorney before deciding to take this important step.
Answered on Jul 03rd, 2013 at 3:19 AM
This means one of your creditors (most likely a secured creditor) is seeking to lift the automatic stay (which protects you) so that they (and no one else) may proceed against you. This can mean a foreclosure, a repossession or (unlikely) a garnishment. Typically, this is a mortgage lender or car loan company where you are not making payments.
Answered on Jul 02nd, 2013 at 12:37 PM
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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That means that they filed a motion stating that their interest in an asset that you have was not protected. If they filed a withdrawal, they do not wish to pursue that motion.
Answered on Jul 01st, 2013 at 7:31 PM
It means that the creditor that filed the motion no longer believes that what was being sought in the Motion is allowed under the law or that it wants to try something else.
Answered on Jul 01st, 2013 at 7:31 PM