top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Bankruptcy, foreclosure, eviction

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Bankruptcy, foreclosure, eviction

    I live in Texas. I filed a bankruptcy November 10th. I have not notified the bank that has posted my home for foreclosure Dec 1. I can not stop the foreclosure because the home is in the name of an LLC that I am a member of. My question: I know that the bank will have to ask the court to lift the stay to evict me. When is the best time to notify the bank that I have filed. My 341 is December 18.

    #2
    Why does the bank need to ask permission from the Bankruptcy court to evict you?

    I'm assuming you lease the property from the LLC. Did you list that lease in your petition? Did you assume the lease? A lease is deemed rejected if you take no action before the 60 days pass.

    What is your intent? You may be lucky and they don't actually hold the sale (keep postponing it) for months.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      wouldn't the automatic stay be in effect?

      Comment


        #4
        Originally posted by zach View Post
        wouldn't the automatic stay be in effect?
        Yes, up until 60 days after you filed... due to the provisions in 11 USC 365 regarding assumption and rejection of leases. I would say on January 9, 2010, the stay imposed by the Bankruptcy Code, would no longer apply to that lease if you didn't assume it!

        To be "safe" the Bank may ask for relief from the automatic stay, but don't count on that.
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment

        bottom Ad Widget

        Collapse
        Working...
        X