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Elizabeth Prentice
Elizabeth Prentice, Attorney
Category: Bankruptcy Law
Satisfied Customers: 174
Experience:  Managing Attorney for one of the largest consumer bankruptcy firms in America.
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I had a creditor get the automatic stay from my chapter 13

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I had a creditor get the automatic stay from my chapter 13 case lifted without having a hearing, is there anything that I can do? It was for a motorcycle loan that matured in nov 2012 but an unpaid balance was added after the loan was paid off for late payment fees and interest.
I am bankruptcy attorney and I would be happy to assist you. Unfortunately, the Judge is able to grant the creditor's motion on the merits of its case without a hearing. If you filed an opposition to the motion, then the judge took into account that as well, before ruling. You may file a motion to reconsider your opposition; however, it must state why the law or facts was applied incorrectly when the Judge rules upon the motion and considered your opposition. If you failed to file an opposition to the creditor's motion, then there is nothing you can do since you never opposed it the first time.

Although a creditor has received the order to lift stay, you may be able to negotiate with the creditor regarding repayment of the fees. You may wish to consider proposing a reaffirmation agreement in order to keep the motorcycle, in which you would agree to repay the late fees and interest.

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Customer: replied 3 years ago.
Can u explain what a reaffirmation agreement is? Would it be spreading out the default amount over the remaining months of the chapter 13?
A reaffirmation agreement is a contract, usually prepared by the creditor. It states that you would agree to repay the amount owed, plus interest. It will state the monthly payments you must make, to where you must send them, and how many months. It is then filed by the creditor with the court for approval. If your plan is already confirmed, then you could make the payments outside the plan, but if the judge thinks they are too much of a burden for you financially he won't approve it because he is looking out for your best interest. If the plan isn't approved, then you can put the payment in the plan, as long as the trustee approves.

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