How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Brent Blanchard Your Own Question
Brent Blanchard
Brent Blanchard, Bankruptcy Attorney
Category: Bankruptcy Law
Satisfied Customers: 1975
Experience:  Twelve years experience in all aspects of debtor & creditor BK.
Type Your Bankruptcy Law Question Here...
Brent Blanchard is online now
A new question is answered every 9 seconds

if a creditor has been granted a relief of stay, and then sell

This answer was rated:

if a creditor has been granted a relief of stay, and then sell the loan to another creditor, does the new creditor have a relief of stay, or do they have to go to court to get a relief of stay?

Thank you for posting your question. BK can be difficult to navigate and fully understand, since most people are involved in the process only once.

After the relief from stay is granted, the creditor can do what it wants with the loan, including sell it to another. The other who buys the loan becomes a "bona fide purchaser for value", who can exercise all rights associated with the loan, without additional court approval.

The other who buys the loan gets the same rights as the original creditor as granted in the order granting relief from stay, no more and no less.

Thank you.

Brent Blanchard and other Bankruptcy Law Specialists are ready to help you
Thank you for accepting your answer.


Related Bankruptcy Law Questions