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71a101 Form

71a101 Form

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upon filing for bankruptcy a self-executing statutory injunction known as the automatic stay is imposed once in operation the automatic stay prohibits creditors from exercising control over the property in the bankruptcy estate in Nissan Motor Acceptance Corporation versus Baker We explore what happened when a creditor trucked forward with its foreclosure efforts despite the imposition of the automatic stay Hubert Baker purchased and financed a Nissan pickup truck through Nissan Motor Acceptance Corporation unfortunately Baker fell behind by more than two monthly payments Baker filed for Chapter 7 bankruptcy without knowledge of the bankruptcy Nissan repossessed the truck following the repossession Baker informed Nissan of the bankruptcy however instead of returning the truck Nissan continued to maintain possession and filed a motion with a bankruptcy court seeking relief from the automatic stay or adequate protection while its motion was pending Nissan sold the truck eventually withou

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