Possible AP by Chrysler Financial

[workingboy]

A Notice of Appearance was filed today by a lawyer representing Chrysler Financial. I'm at the 30 day mark for objections after my 341. Trustee filed report of no assets. Any recent dealings with Chrysler Financial? Sould I be worred?

[ForumReader]

A Notice of Appearance was filed today by a lawyer representing Chrysler Financial. I'm at the 30 day mark for objections after my 341. Trustee filed report of no assets. Any recent dealings with Chrysler Financial? Sould I be worred?

I am not sure if you have hired an attorney since I did not read your previous posts, but if you have hired an attorney, get in touch with him or her regarding your concerns by this creditor. Personally for me, no dealings with CF, but I have heard CF can be aggressive with getting their cars back through CF loans of consumers filing for BK. I may be wrong though. Did you have a car loan with CF and wanted to keep the car?

[workingboy]

Thanks for your post ForumReader. I have an attorney and will call today. I had a loan w/ CF. The car was repossessed.

[keptdigging]

For the newbs (including me) here: What's the meaning of a "Notice of Appearance"?

[tigergem]

I am pretty sure that the Notice of Appearance just means they hired an attorney to represent them in the proceeding. By itself, that is no big deal.

[Rick9972]

For the newbs (including me) here: What's the meaning of a "Notice of Appearance"?

I was told once that all a "Notice of Appearance" was is a Crediter's way to make sure they stay updated on this case "just in case" something interesting comes out later.

[keptdigging]

I'm glad I asked... doesn't sound like a prelude to an AP at all.

[tigergem]

No, it's not. I had a couple of creditors file Notice of Appearance. I think one of those was one whose claim I had disallowed a week or so by objecting to their claim.

[workingboy]

Now another law firm has filed a Motion for Relief From Stay for Chrysler Financial. The car has already been repossessed. I guess they now want permission to sell it and I may have to pay the difference, right? I was part of a RIF over a year ago, I'm underemployed and looking for a job. I don't even bring home enough to pay monthly obligations. I will, of course, call my attorney, but what happens now?!

[Rick9972]

Now another law firm has filed a Motion for Relief From Stay for Chrysler Financial. The car has already been repossessed. I guess they now want permission to sell it and I may have to pay the difference, right? I was part of a RIF over a year ago, I'm underemployed and looking for a job. I don't even bring home enough to pay monthly obligations. I will, of course, call my attorney, but what happens now?!

Relief of Stay means that they can repossess the car. (pretty useless in your case, unless you want to get the car back)
This does not mean that they are not part of your BK. As stated it allows them to claim the secured property and dispose of it. Your personal obligation to CF will still be discharged.

Just a consideration for others with vehicles included in a BK. This is the one and only time you will ever be able to negiogate with a car company on equal terms. It does not apply in your case as the car has already be repo'd but normally a company does not want the car back, and is willing to make serious concessions in order to get you to reaffirm.

In my case, I was able to get @ $5k knocked off the balance and @ 6 pts off the interest rate. My lawyer told us that he reccomends people never reaffirm the origanal terms, but it never hurts to make an offer, they just might take it.

[workingboy]

Thanks Rrick9972. I'm feeling a little more at ease. Can't wait 'till this whole thing is over -- 35 days to go until discharge.

[workingboy]

Thanks for all of your replies. As previously stated, the motion for relief allows CF to repossess and sell the vehicle. The motion states that we have 14 days to respond. The car was repossessed in late March, so that part of the filing is moot. I don't want the car back, so my attorney said that we're simply not going to respond. The Motion for Relief also had a preliminary hearing date set. My attorney said that since I'm not protesting, I don't have to worry about the court date. Again, as stated previously, any financial obligation to CF will be discharged. I thought this update would be useful for those who may face a similar situation in the future. Aug. 6, the last day for objections after my 341, can get here soon enough.