Legal Question in Bankruptcy in Nebraska

Timely notification

How much time does a debtor have to notify a crditor, before filing for chapter 7, in the event a deed of trust has

been filed against property debtor owns.

In this case for instance, after proper advertisement and procedure as required by the deed of trust, a sale date was establised on the friday 24th of the month. the debtor filed on that day, basically after the sale had taken place. The creditor was notified the following tuesday by mail that a chapter 7 had been filed.

What are the creditors options?


Asked on 10/06/99, 5:15 pm

1 Answer from Attorneys
Dorothy Bunce

Re: Timely notification

If the filing occurred before the sale, the stay is effective without actual notice to you, although you cannot be sanctioned for violating the stay. If the filing occurred after the sale, the trustee can revoke the sale.

You should see an attorney to establish whether it would be worthwhile to file a motion to lift the automatic stay and proceed with the sale, based on the particular circumstances of your claim.

Read more
Answered on 10/07/99, 8:54 am


Related Questions & Answers

More Bankruptcy Law questions and answers in Nebraska