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Elizabeth Prentice
Elizabeth Prentice, Attorney
Category: Bankruptcy Law
Satisfied Customers: 170
Experience:  Managing Attorney for one of the largest consumer bankruptcy firms in America.
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I filed for bankrupcy chapter 7 and it was already discharged.

Customer Question

I filed for bankrupcy chapter 7 and it was already discharged. Today I received the bankrupcy court order" terminating automatic stay" in favor of Secured creditor Bank of America N.A.
What is the meaning of this order?
What should I do?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  WiseOwl58 replied 2 years ago.
The automatic stay is a stop to all litigation during the period that the bankruptcy case is open. So the automatic stay stops all litigation from the date that the bankruptcy is filed until the discharge.

Your BofA loan should have been dealt with during the bankruptcy. If it was included in your debt, then it should have been discharged, and you should notify the bank that the debt was discharged. They are not allowed to try to collect on a debt that is discharged, and they know that, so as soon as you advise them, they should stop pursuing you for anything.

Good luck to you. I wish you all the best.
Customer: replied 2 years ago.


You didn't answer my questiion, I received aN ORDER TERMINATING THE AUTOMATIC STAY....I understand the order is in favor of BofA , and granting the following:


1-Relief from the stay allowing movant to proced under applicable non- bankrupcy law to enforce its remedies to foreclosure upon and obtain possesion of the property.


2- That the order be binding and effective despite any conversion of this bankrupcy case to a case under any other chapter of Title 11 of the US Code


3- That the 14 day stay described by Banckrupcy Rule 4001(a)(3) be waived


4- For such other relief as the court deems proper


dated August, 31, 2012.


What is the meaning and whta should I do?

Expert:  Elizabeth Prentice replied 2 years ago.
Hello! I am a Nevada attorney and would like to help answer your question. Although you received a discharge, your case is most likely still open. The Order was granted after a hearing was held based on a motion the bank filed in order to foreclose on the property (this is assuming that the Bank of America loan was a mortgage). You will not be liable for any debt owed, but now Bank of America may move forward with foreclosing on the property immediately. They do not need to wait the normal 14 days after the order to do so. You will receive a notice regarding the sale date of the property soon from the Bank. Sometimes I recommend that a debtor call the bank as soon as possible to find out when they plan to sell the house if they have not yet given you the notice, that way you can make plans to move if you are still in the house. Also, even though the Order has been granted and they do not need to wait 14 days to begin the foreclosure process it is typical in Nevada that it may take quite some time for the bank to actually foreclose since the market has many foreclosures. The bank does have to follow normal state law in the foreclosure process, though. As always, I advise you to contact any bankruptcy attorney that you retained. They may have further information that may assist you. I hope my answer helps and that you leave me a good rating!
Elizabeth Prentice, Attorney
Category: Bankruptcy Law
Satisfied Customers: 170
Experience: Managing Attorney for one of the largest consumer bankruptcy firms in America.
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