top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

Citi Financial did not file claim..but has our car title!!

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Citi Financial did not file claim..but has our car title!!

    Hi all, This question may have already been ask ( I may have even ask it myself, but cannot find post..) We have a small loan thru Citi Financial and they have one of our vehicle titles. They did not file a claim with trustee...what happens to our car title? We turned them in at the beginning of our 13, and not sure why they did not file a claim. Can we get our title back from them? Do we have to wait till we are done with the 13? Or can I call over there and ask them ( C.F) about it? We have someone who would like to buy the truck..but can't sell without title. Trying to stay under the radar, so really do not want to call attorney or trustee and ask. Any suggestions?? :Thanks!!
    Tags: None
    #2
    This is my opinion. They own your car at this time with a full lien. They don't want to participate and once your 13 is in place, they will want their full amount. It is my opinion that if I were in this spot, I would either notify them, or just ride out your 13, then give them back a warn out car. You will be dismissed.

    C13's are not often finished. If you are in one, they are gambling on a default, then they will go after the whole amount. I'm not a 13 expert but I see this clearly. 'Hub
    If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

    Comment

      #3
      Ok I am confused...if we listed them and they chose not to participate..my understanding is that they cannot come after us for the amount owed..at least that is my understanding....So if that is the case then they can do whatever they want??? The way our attorney explained this when we first filed ( and forgive me..I have slept since then..) that if a creditor did not file a claim or our trustee turned down a claim then we were off the hook..I could be wrong..

      Comment

        #4
        Have you checked with DMV on an abstract of title? It costs about 8 bucks and will verify they actually do have a lien listed. If not, technically its an unsecured debt. Many of those title loan places dont actually file liens at the DMV. They just "hold" the paper title and if you default they will slap a lien.
        Ch 7 filed 8/15/11 341 9/22/11 Discharge 11/28/11
        The rebuilding begins

        Comment

          #5
          Citi financial wants to get a rusty mold-infested hulk back in 5 or 10 years.
          You may have to get it towed and impounded to get the title out of their hands.
          filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

          Comment

            #6
            Seems to be a common issue with CitiFinancial. Luckily my failed claim was $4000 for new furniture :-p
            19% dividend

            Comment

              #7
              What if this were a chap 7? then what happens if, say its in a junk yard?

              Comment

                #8
                Can you find out? I have a car its motor blown and it was in a accident but we didn't have title for junk yard.

                Comment

                  #9
                  Can someone please answer the OP's original question, I would like to make sure of this too :-) If a creditor fails to file a claim and your Ch. 13 is successful, are they just SOL after you've been discharged?
                  4/29/2011 - Filed Chapter 13, have to pay a massive payment each month!
                  6/16/2011 - 341 meeting
                  7/21/2011 - Confirmed!

                  Comment

                    #10
                    You can file a claim on their behalf and force them to participate.
                    filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

                    Comment

                      #11
                      Why would you do that? If they do not file a claim, isn't that their tough luck? Or will you end up owing them when your bk is done?
                      4/29/2011 - Filed Chapter 13, have to pay a massive payment each month!
                      6/16/2011 - 341 meeting
                      7/21/2011 - Confirmed!

                      Comment

                        #12
                        Originally posted by nsupanda View Post
                        Why would you do that? If they do not file a claim, isn't that their tough luck? Or will you end up owing them when your bk is done?
                        That was my original question...all of this is so confusing!! The truck still runs so really hate to let them have it back....

                        Comment

                          #13
                          For a secured asset they are entitled to their collateral back.
                          By filing a claim and putting the car in the plan you force the trustee to pay them off.
                          It's at least a way of forcing them to the table.
                          filed chapter 13..confirmed...converted to chapter 7...DISCHARGED!

                          Comment

                          Previous template Next

                          bottom Ad Widget

                          Collapse
                          Working...
                          X