We have a few toys that we will be filing on as well as the unsecured stuff. How long after I file till they come collect the items. Like a boat, toy hauler and off road motorcycles? Just trying to plan on how much fun I can have till it's gone
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I think they'll come after you only if the total value exceeds the 'allowed' minimum deductions. If it exceeds, they will settle with you after the courts decision.12/31/08: Filed for ch 13. (FICO: 605 as of 1/5/09, 648 as of July 2010). 02/11/09: 341 mtg. Plan confirmed for $200 per month for 36 months... (20 down 16 left)
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Whether you get to keep your "toys" or not depends on how much can be protected by your state's bankrutpcy exemptions. Which state will you be filing in?Originally posted by jenopher View Post
Whether the original lenders will come after your stuff or not depends on how much equity the items have. The more equity they have, the higher the risk the lender will repossess them.
Keep in mind that used toys like yours devalue very quickly. Don't reaffirm any of them - wait to see what happens. Chances are you'll end up keeping at least some of them because repossessing isn't cheap for the lender. Unless the lender can make a goodly sum by selling what you have, most of the time it just isn't worth trying to get the stuff back.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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Are you going to keep paying them or have you stopped?Chapter 7 Pro Se....Discharged Feb. 2006Comment
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We are in Cali and we don't plan on reaffirming any of them. We will stop paying them this next month. MAy is current and we will file officially around June 15th. So no payments will be made in June. The boat is worth approx. 15K and we owe 22K. The trailer is worth about 15K as well and we owe 18K. The motorcycles are all on one card and one is worth 3K and the other 4K. No equity in those either. I imagine they will come get the items, just no idea when to expect them. Thanks for the replies, it helps to get others experiences.Comment
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