My case began as a Chapter 13 in March 2019 and was converted to Chapter 7 in August 2019. I received a discharge in February 2020. The case is not yet closed - since the discharge at the end of February, the Trustee has worked on collecting assets from me to distribute to creditors. The collection of assets is complete, but the distribution is not yet complete. Creditors have until August to come to the table.
I looked in Pacer today and noticed that the Trustee filed a Notice of Proposed Abandonment last week for my two vehicles. Both vehicles were being financed at the time of my filing. As I intended to keep both vehicles, the payments were rolled into my monthly Chapter 13 payments. However, after the case converted to Chapter 7 in August 2019, I have not been contacted by either of the lenders at all, and I have not made any payments on either vehicle. Both submitted proofs of claim when I filed. However, when I look at my credit report now I only see one of the accounts listed - and it is listed as Chapter 7 bankruptcy with zero balance. The second car loan doesn't show up at all anywhere on my credit reports. It doesn't show up as a closed account... it's simply gone.
So I'm trying to figure out what is going to happen with the vehicles. The creditors have 14 days to object to the proposed property abandonment. Both cars still have significant value, but both are worth less than what is owed on them due primarily to no payments made for a year.
If the property abandonment takes effect, what happens with the vehicles? They still belong to the creditors since they have not been paid off, but neither creditor has contacted me at all, despite the discharge happening three and a half months ago.
For reference, here's the notice that was filed last week:
"NOTICE OF PROPOSED ABANDONMENT
In accordance with Fed. R. Bank. P. 6007, the Trustee hereby gives NOTICE of the proposed abandonment of the following described property:
2013 Dodge Durango;
2015 Cadillac Escalade.
The Trustee believes such property is of no value to the Estate. Any objection by a party in interest shall be made in writing and filed with the Clerk of this Court at 1340 Russell Federal Building, 75 Ted Turner Drive, S.W., Atlanta, Georgia, 30303 and a copy served on the Trustee within fourteen (14) days from the date of the mailing of this Notice. If no written objection is filed within fifteen (15) days, the property shall be deemed abandoned without further hearing or Order of this Court."
I looked in Pacer today and noticed that the Trustee filed a Notice of Proposed Abandonment last week for my two vehicles. Both vehicles were being financed at the time of my filing. As I intended to keep both vehicles, the payments were rolled into my monthly Chapter 13 payments. However, after the case converted to Chapter 7 in August 2019, I have not been contacted by either of the lenders at all, and I have not made any payments on either vehicle. Both submitted proofs of claim when I filed. However, when I look at my credit report now I only see one of the accounts listed - and it is listed as Chapter 7 bankruptcy with zero balance. The second car loan doesn't show up at all anywhere on my credit reports. It doesn't show up as a closed account... it's simply gone.
So I'm trying to figure out what is going to happen with the vehicles. The creditors have 14 days to object to the proposed property abandonment. Both cars still have significant value, but both are worth less than what is owed on them due primarily to no payments made for a year.
If the property abandonment takes effect, what happens with the vehicles? They still belong to the creditors since they have not been paid off, but neither creditor has contacted me at all, despite the discharge happening three and a half months ago.
For reference, here's the notice that was filed last week:
"NOTICE OF PROPOSED ABANDONMENT
In accordance with Fed. R. Bank. P. 6007, the Trustee hereby gives NOTICE of the proposed abandonment of the following described property:
2013 Dodge Durango;
2015 Cadillac Escalade.
The Trustee believes such property is of no value to the Estate. Any objection by a party in interest shall be made in writing and filed with the Clerk of this Court at 1340 Russell Federal Building, 75 Ted Turner Drive, S.W., Atlanta, Georgia, 30303 and a copy served on the Trustee within fourteen (14) days from the date of the mailing of this Notice. If no written objection is filed within fifteen (15) days, the property shall be deemed abandoned without further hearing or Order of this Court."
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