My sister and I each filed a BK7 on Feb 28 and had our 341's on Mar 27, 2008. The Trustee declared each of us as "no asset" 
. We had previously purchased a home together in North Carolina, which we surrendered during the BK (home was vacated in Oct 2007, which Wells Fargo was aware of). An attorney for Wells Fargo has now filed a Motion for Relief of Stay and has scheduled a hearing for Apr 21. They are requesting the termination of the stay so that they may proceed to foreclosure, and it appears that they are requesting that we pay their attorney's fees, and to have all post-petition payments be brought current, including late charges and costs. They are stating that "the debtor has failed to provide adequate protection to Movant, which constitutes cause to terminate the automatic stay".
While waiting to hear back from our attorney, does anyone have any idea what this all means?? Could we possibly be ordered to pay their fees or back payments?
Thanks!
. We had previously purchased a home together in North Carolina, which we surrendered during the BK (home was vacated in Oct 2007, which Wells Fargo was aware of). An attorney for Wells Fargo has now filed a Motion for Relief of Stay and has scheduled a hearing for Apr 21. They are requesting the termination of the stay so that they may proceed to foreclosure, and it appears that they are requesting that we pay their attorney's fees, and to have all post-petition payments be brought current, including late charges and costs. They are stating that "the debtor has failed to provide adequate protection to Movant, which constitutes cause to terminate the automatic stay".While waiting to hear back from our attorney, does anyone have any idea what this all means?? Could we possibly be ordered to pay their fees or back payments?
Thanks!
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