got a letter from a lawyer about my car

[denisejohn65]

I had my 341 in July. I'm giving car back. I got a letter in the mail about the car. It has a court date on it. It says a motion for relief for the automatic stay. Local rule 401...what is that and what does it mean???In one part the letter says trustee has failed to cure debters default in the performance and conditions of the agreement. What does this mean??? Do I have to go to court? Should I call these people Monday??? Please help me with this......I'm scared.

[whipster1]

No, you are surrendering it, the lawyer will send an Agreed Order to your lawyer to sign, then they will come get the car. No biggie.

[denisejohn65]

There is a court date on there and it has addresses of me my lawyer and the tt that they sent these papers too

[whipster1]

They have to ask for a hearing for the lift of stay. That is the court date. The hearing will be announced as "Agreed Order, Judge"...you do not have to go.

[debtmonster]

I will be going through this stuff as we will be fighting to keep our car which I guess is unorthodox compared to what people do here. Remember, I filed on July 31th and I am trying to keep my car until at least mid January and beyond. If I can pull this off (keeping the car for a long time past the discharge and fighting the automatic stay and not re-affirming the vehicle), I am guessing I will be the only person on this forum to have done so.

I will try to keep track of all of the documents and post them as I get them so you guys can see what I am up against. I have my doubts about what the lawyer can do, but we're going to give it a shot.

[lrprn]

There is a court date on there and it has addresses of me my lawyer and the tt that they sent these papers too

Denise, this is routine when you are surrendering a car after filing. Your car lender has asked the court to lift your automatic stay and this hearing is where the court is going to give them permission to repossess it. It's what every lender has to do to get their asset back when the filer surrenders it when they file. Nothing to worry about at all.

[debtmonster]

Denise, this is routine when you are surrendering a car after filing. Your car lender has asked the court to lift your automatic stay and this hearing is where the court is going to give them permission to repossess it. It's what every lender has to do to get their asset back when the filer surrenders it when they file. Nothing to worry about at all.

So they can't touch the car until the judge tells them they can?

In my case, will they have to keep going to court to try to get my car and the longer my attorney fights them, the longer I can legally drive the car until my attorney tells me to give it back?

I am just wondering if this will delay my discharge by doing this or is the lift of automatic stay lifted AFTER the discharge?

[denisejohn65]

Why does it say tt has failed to cure debters default in the performance and conditions of agreement???What does that mean??? I don't even have a discharge and don't even know if I will get one....cuz I have a random audit going on and it is not done yet.I don't have pacer either.
It also says if you oppose the motion you are required to file w/ this court bla bla....do I call these people Monday. I don't want to get in trouble for not going to crt.

[justbroke]

I had my 341 in July. I'm giving car back. I got a letter in the mail about the car. It has a court date on it. It says a motion for relief for the automatic stay. Local rule 401...what is that and what does it mean???

This just means that the creditor is wanting the court to pave the way for them to repossess the car. In order to do this, they must ask the court for permission by having the court relieve them from the terms of the automatic stay. Once the stay is lifted, they can pursue repossessing the car.

In one part the letter says trustee has failed to cure debters default in the performance and conditions of the agreement. What does this mean???

Whenever a creditor files for relief from the automatic stay, the burden is on them to prove that the stay should be lifted. What that part of the letter means, is that the Trustee is in charge -- controls the Estate -- and the Trustee has failed to pay at least adequate protection payments to cover any future depreciation of the vehicle. This is just one of the reasons for the Court to lift the stay.

Do I have to go to court? Should I call these people Monday??? Please help me with this......I'm scared.

You don't have to go to Court. You want to give the car back, right??? As soon as the stay is lifted, they will resume repossession activity. You could call them after the stay is lifted, and arrange for a reasonable time and/or location to surrender the car to their agent (the Repo Man).

Why does it say tt has failed to cure debters default in the performance and conditions of agreement???What does that mean???

See above. This is all standard procedure... and procedure it is. The lender must carefully orchestrate their repossession of they could get into a lot of trouble for violating the automatic stay! You don't have to go to Court if you want this RFS to happen! As mentioned, you can have your lawyer issue a Consent to Motion for Relief from the Automatic Stay so that it will go quicker.

[debtmonster]

This just means that the creditor is wanting the court to pave the way for them to repossess the car. In order to do this, they must ask the court for permission by having the court relieve them from the terms of the automatic stay. Once the stay is lifted, they can pursue repossessing the car.

That's why I want my attorney to make it so they can't pave the way and then I can keep my car long enough to save up $8,000+ for a new car. If they take it in 90 days, I won't have enough money to keep the payments low. My interest is going to be high, so I want to keep my cap at $7,500 for a loan.

[justbroke]

That's why I want my attorney to make it so they can't pave the way and then I can keep my car long enough to save up $8,000+ for a new car. If they take it in 90 days, I won't have enough money to keep the payments low. My interest is going to be high, so I want to keep my cap at $7,500 for a loan.

Your lawyer will probably just "stall" by asking for continuances.

[debtmonster]

Your lawyer will probably just "stall" by asking for continuances.

I think that's exactly what he's going to do.

I don't care as long as it works. How long does a continuance last?

[teacher]

Thanks for clogging the BK legal system, I'm sure everyone here appreciates it.

I'm sure we're all crossing our fingers so you can keep your Bimmer a little longer....

[debtmonster]

I'm sure we're all crossing our fingers so you can keep your Bimmer a little longer....

Thanks, I appreciate that, Cap'n.

Maybe you can send a few grand my way to help me put down on the next car. That would be cool.

[justbroke]

I think that's exactly what he's going to do.

I don't care as long as it works. How long does a continuance last?

They can probably, successfully, push them 1 month at a time. However, a smart lender might get smart after 1 or 2, and ask for no more continuances.