A Motion for relief from stay regarding collateral — hearing is a hearing held by a bankruptcy court to determine whether a creditor should be allowed to take possession of collateral property that is being held as security for a debt. This hearing is requested by the creditor in a motion for relief from stay, asking the court to lift the automatic stay that was imposed when the debtor filed for bankruptcy protection. In the hearing, the creditor must present evidence that the secured debt is valid and that the property being held as collateral is necessary to satisfy the debt. The debtor must then present evidence as to why the court should not grant the relief from stay. The court will then make a decision based on the evidence presented. There are two types of Motion for relief from stay regarding collateral — hearing: an adversary hearing and an uncontested hearing. An adversary hearing is a contested hearing where both parties have the opportunity to present evidence and argue their case to the court. An uncontested hearing is when the debtor does not oppose the motion for relief from stay, and the court will likely grant the motion.
Relief Stay Order
Description
How to fill out Motion For Relief From Stay Regarding Collateral - Hearing?
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