Can someone help me out about the stay process...

[imoverit]

Will someone explain to me or point me to a link that explains, step by step, the stay process? I've browsed the forums and went to bk law network and cant find the process. I am looking for timelines, who grants what...basically the details...Does the relief get granted at the 341... much appreciate any info!

[HHM]

1. File BK...The "stay", or more accurately, the "Automatic Stay" goes into effect the minute you file your case. (section 362)
2. 341 Meeting of Creditors, AKA the trustee meeting.
3. Discharge, replaces the automatic stay with the Discharge Permanent Injunction (section 524).

Basically, everything more or less happens automatically unless someone objects.
The BK Trustee's role is to determine if there are any non-exempt assets that can be liquidated to pay something to creditors. The US Trustee is the one who objects if you do not qualify for a BK.

[imoverit]

So when a creditor files "relief of automatic stay" Does the trustee have to "grant" it? Or is it a timed thing? Like 15 days after filing relief, no objections so it's lifted? I appreciate the guidance!

[HHM]

A motion for relief is a request made to the court. When the Motion is Filed, you will be given xx days to respond, if you don't respond, the court grants the motion. If you do respond, an hearing is set and the BK judge decides. There is no "specific" timing on this issue as it is up to the court's schedule.