My 341 is today. My lawyer called me yesterday and said that i needed to take the sales contract to my vehicle because if the lien was not perfected it would be taken away!!!!!!!!!!!!!!!!!!!!!!!!!!!
-
-
i don't think so, geesh, taken away right there on the spot???? i think the trustee would allow some type of buy back if the lien was not perfected which i hopefully doubt since it should have transpired at the time of it's creation. or until the, as of the date on which the department which is appliable has received the papers and fee required.
also, If the name of the secured party is shown on the existing certificate of ownership issued by that jurisdiction, the security interest continues perfected in your state. The name of the secured party shall be shown on the certificate of ownership issued for the vehicle by this state. The security interest continues perfected in the state upon the issuance of such ownership certificate.
(c) If the security interest was not perfected under the law of the jurisdiction where the vehicle was when the security interest was attached, it may be perfected in your state; in that case, perfection dates from the time of perfection in your state.8/4/2008
MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9 -
I had this issue arise - thankfully even though my lien wasnt perfected in a timely manner, it was on a LEASED vehicle, so it wasnt mine to give away. So I was still able to reaffirm (yes I evaluated all the reasons to reaffirm or not). But typically the lien is perfected upon FILING WITH DMV and sometimes these dealers/banks take too long, and this issue arises. If the lien is deemed to NOT be properly perfected, the Trustee can take it as part of the estate.
But it wont happen right there at the 341 hearing....and it is possible you can make arrangements with the Trustee....IF you have the money.Comment
Comment