IF YOU ARE A HOMEOWNER WITH A GMAC FORECLOSURE YOU NEED TO PAY CAREFUL ATTENTION TO THE RAPIDLY APPROACHING GMAC CLAIMS BAR DATE.
Claims not filed by November 9 are forever lost!
A key group of advocates led by attorney Robert Brown and Paula Rush are working hard to ensure borrowers have a seat at the table, but this is a massive David v. Goliath effort that pits homeowners against the most powerful financial forces in the universe.
A little background on the GMAC Bankruptcy:
General Information: On May 14, 2012, each of the fifty-one Debtors filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”). The cases are pending joint administration under Case No. 12-12020 (collectively, the “Bankruptcy Cases”) before the Honorable Judge Martin Glenn in the United States Bankruptcy Court for the Southern District of New York.
Pursuant to the Bankruptcy Code (specifically including, but not limited to, 11 U.S.C. § 362), a debtor is afforded certain protection against its creditors; the Bankruptcy Code prohibits creditors from taking certain actions related to debts that may have been owing prior to the commencement of the Bankruptcy Cases. If you believe that you might be a creditor of the Debtor(s) based upon debts arising prior to May 14, 2012 and you are considering taking action based upon your status as a creditor, you may wish to seek legal advice. The staff of the Clerk of the Bankruptcy Court and the staff of KCC are not permitted to give legal advice.