Bill loaned his cousin, Paul, money with which to purchase a delivery vehicle for Paul's business, and Bill properly perfected a lien on the vehicle. Paul stopped making payments to Bill, was in default in regard to his loan to Bill and also in regard to loans from other creditors, and filed for Chapter $7$ bankruptcy protection. Bill wants some assurance that the bankruptcy proceeding will not cause him to lose money or his lien. Which of the following is the best advice to Bill?

Multiple Choice

That Bill cannot take any immediate action because of the automatic stay provisions and that he must wait until the bankruptcy proceeding is finished in order to take any action to repossess the vehicle or otherwise recover amounts from Bill.

That Bill should proceed with repossession because, as a secured creditor, he is not affected by automatic stay provisions.

That Bill should ask the court to give him relief from the automatic stay on the basis that his interest in the vehicle is not adequately protected.

That Bill cannot receive any funds immediately but that, as an inadequately unsecured creditor, he may receive at least a portion of what is owed to him when the bankruptcy trustee liquidates the estate.