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1301(c)(1) exception to co-debtor stay
What is the appropriate remedy for violations of 1301(c)(1) codebtor stay,
procedurally?
Dennis
Sent: Sunday, November 07, 2010 7:27 PM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] 1301(c)(1) exception to co-debtor stay
Codebtor, read 1301 (no hyphen)
Sent from my iPhone
On Nov 6, 2010, at 11:10 PM, Alik Segal wrote:
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I have not considered the language before, but it seems to say that the
co-debtor stay applies, but the creditor can get relief from the co-debtor
stay. I'll bet many creditors are not aware of that little nugget.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Alik Segal
Sent: Saturday, November 06, 2010 11:11 PM
To: CDCBAA Listserv; bk
Subject: [cdcbaa] 1301(c)(1) exception to co-debtor stay
Listmates,
Please help me understand this section:
(c) On request of a party in interest and after notice and a hearing,
the court shall grant relief from the stay provided by subsection (a) of
this section with respect to a creditor, to the extent that
(1) as between the debtor and the individual protected under
subsection (a) of this section, such individual received the consideration
for the claim held by such creditor;
Does this mean that co-debtor stay does not apply to a situation where the
debtor was a cosigner who helped someone else get the loan proceeds, and
where the debtor did not personally receive the loan proceeds or any benefit
therefrom?
Thank you,
Alik Segal
Alik.Segal@gmail.com
310-362-6157
Cal. CD, Los Angeles
Yahoo! Groups Links
The post was migrated from Yahoo.
Listmates,
Please help me understand this section:
(c) On request of a party in interest and after notice and a
hearing, the court shall grant relief from the stay provided by
subsection (a) of this section with respect to a creditor, to the
extent that
(1) as between the debtor and the individual protected under
subsection (a) of this section, such individual received the
consideration for the claim held by such creditor;
Does this mean that co-debtor stay does not apply to a situation where
the debtor was a cosigner who helped someone else get the loan
proceeds, and where the debtor did not personally receive the loan
proceeds or any benefit therefrom?
Thank you,
Alik Segal
Alik.Segal@gmail.com
310-362-6157
Cal. CD, Los Angeles
The post was migrated from Yahoo.