Can An Unsecured Creditor (home Contractor) Become Secured After The Temporary Stay Is In Place?
This may be an obscure situation, but I appreciate any information you've got. Before filing, I had a contractor working on my house. Because he does not currently have a lien on the property, he is not listed as a secured creditor. If he liens the property after the stay is in place, can he be moved to the secured creditor list? Thanks,
It depends on your state's law, to an extent. I would argue that only the post-petition portion of the work should be lienable, and I'd assume that the contractor would argue that it was a unitary job, or that you undertook the contract with the expectation of filing, making the debt nondischargeable.
| Bankruptcy FAQ Main Page | Do It Yourself Bankruptcy | Cost Of Bankruptcy | Business Bankruptcy | Bankruptcy Types | Bankruptcy Procedure | Bankruptcy Mortgage | Bankruptcy Law | Bankruptcy Info | Bankruptcy Forms | Bankruptcy Debts | Bankruptcy Court | Bankruptcy Chapter 11 | Bankruptcy Chapter 7 | Bankruptcy Alternative | Bankrupcty | Bancruptcy | Personal Bankruptcy Laws | Personal Bankruptcy | Life After Bankruptcy | Filing Bankruptcy |