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Gavin found himself in serious debt and unable to pay his bills. On May 1 , he filed for bankruptcy. One of Gavin's creditors was
Gavin found himself in serious debt and unable to pay his bills. On May he filed for bankruptcy. One of Gavin's creditors was Valley Bank to whom Gavin owed a $ for a home loan. Later in May, Gavin received a phone call from Valley Bank demanding that he make payment. He informed the bank that he had filed for bankruptcy, so the bank, in response, began foreclosure proceedings against Gavin to try and recover as much as possible. Which of the following is true in the context of this scenario?
a Gavin should have tried to pay off as much as possible, even after the bankruptcy had been filed.
b The bank is entitled to foreclose because those are the terms of the home loan.
c The bank is prohibited from foreclosing until the case is closed or dismissed.
d The bank can foreclose on the home as long as it is done within days' notice of the bankruptcy filing.
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