repo a week before ch 13 filing!!!

[IamOld]

Well everyone, I'm going to (fingers crossed) sign CH 13 in about 1 week.

Meanwhile, my spouse's motorbike was repoed this evening. Like an idiot, I opened the door...purchase on this was late Oct 2008....I think I'm a couple of weeks short of 910 days...if I wind up "surrendering" this in Ch 13, what is the "latest case law?" Is this satisfaction in full??? Deficiency bal is probably...4K

I'm also crossposting in Repo Forum...

[stratos]

If you surrender and eventually get a ch. 13 discharge, you are discharged from the debt, including the deficiency. If you don't get the discharge, you likely owe the deficiency.

[IamOld]

If you surrender and eventually get a ch. 13 discharge, you are discharged from the debt, including the deficiency. If you don't get the discharge, you likely owe the deficiency.

Thank you Stratos! Does anyone know how soon CH 13 has to be filed to reclaim this possibly? Can it be done anytime before they sell it???

[stratos]

You have ten days to get it back if not sold. In any event, if it's repossessed or you voluntarily surrender, a deficiency would be discharged in your ch 13.

[IamOld]

You have ten days to get it back if not sold. In any event, if it's repossessed or you voluntarily surrender, a deficiency would be discharged in your ch 13.

Thanks!!!! That's what I figured...but...that'll be cutting it close - ch 13 signing is on April 20th - maybe they can file electronically...and I doubt it'll be sold by then!

[jetsfan2010]

can you file it before by any chance?

[daxtell]

i do not think they give it back to you after repossession. even if you file chapter 13, because it is after the fact. i could be wrong.

[stratos]

Probably depends on state law. http://stjohns.abiworld.org/node/82

[IamOld]

The thing is, I cannot afford another penny of unsecured debt because because of student loans I'd be over the 13 limit.