Legal Question in Credit and Debt Law in California
Effect of Bankruptcy on Secured Creditor
1.How does a secured creditor proceed in foreclosure
against a bankrupt debtor?
2. Does the bankrupt debtor maintains its right of
redemptio
Asked on 2/07/00, 2:04 am
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Effect of Bankruptcy on Secured Creditor
you need to make a motion in the bankruptcy court for relief of the stay. if they are in default it should be granted. To redeem the property they would have to pay up front the market value of the property.
Answered on 2/09/00, 1:57 am
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