Question about stolen vehicle recovered

[Meh]

So I just got off the phone with my attorney. We are in agreement thet there are no lien on the bike but is afraid that a creditor may file an AP. The situation is sticky.
I bought the bike in 2007 with a secured loan from a credit union. After the bike was stolen, the state would not issue a title due to the VIN being flagged so my credit union converted the loan from secured to UNsecured, raised my rate, and I kept paying up until I filed BK a few months ago.

I talked with the CU today, they agree there is no lien on the loan. My attorney fears that they may file an AP and either request the bike or somehow *im not really sure how*, request that I be required to pay ALL of the debts I have with them. They are my largest creditor. This creditor informally requested a 2004 at my 341, but has yet to file a motion. They did ask me some questions about if I have always paid my mom rent to whcih I answered yes, but on my loan application ( i remember for this bike, I had a notraized letter stating) that I DO NOT pay rent because at that time, I was not paying rent. Im thinking that if they do file an AP, they would be basing it off of this as this is the only thing I can fathom that can be construed as fruad when honestly it was just a slip of the tounge. I used to not pay my mom rent as I was in school and working. When times got harder for her, she told me i would have to pay her or move out. I started paying rent around January of 2008 and I moved out and into an apartment of my own on May 2008. May 2009, i moved back in with my mom after the lease was up and I continue to pay her rent.

As previously stated, I don't mind giving the bike back to the CU, but I don't feel they are due it since they gave up their secured interest in it, and it would be nice to have a mode of transportation as I surrended me vehicle and I am currentlying taking the bus or riding with friends/family when I can. The bike probably does qualify to fall under my wildcard since it's damaged so badly and has lost value because of the branded title and damage on it.

Do any of you have any clue on this. Should I be worried about them bringing forth and being sucessful with an AP becuase of my mis statement? I should note that sometimes I didn't pay my mom in money, sometimes I would buy food, or pay an utility bill etc. So the amount of rent I did pay often times varied.

[music12]

i think what the CU would have to show is that you stole the bike from yourself to get them to make the debt unsecured. i think that would be impossible.

[Meh]

That would have ment that I was planning to BK way back in 2007! Life was golden for me back then. It was 2008 when it went to shit lol. Im getting a copy of the police report tomorrow ( I never got a copy when the bike was stolen because the insurance company I had was supposed to be handling that).

[OhioFiler]

That would have ment that I was planning to BK way back in 2007! Life was golden for me back then. It was 2008 when it went to shit lol. Im getting a copy of the police report tomorrow ( I never got a copy when the bike was stolen because the insurance company I had was supposed to be handling that).

If the insurance company paid you for the loss of the bike it probably belongs to them. I'm surprised the CU wasn't listed as an additional insured.

[Meh]

Insurance co did not pay for my claim.

[tinfoilhat]

So I just got off the phone with my attorney. We are in agreement thet there are no lien on the bike but is afraid that a creditor may file an AP. The situation is sticky.
I bought the bike in 2007 with a secured loan from a credit union. After the bike was stolen, the state would not issue a title due to the VIN being flagged so my credit union converted the loan from secured to UNsecured, raised my rate, and I kept paying up until I filed BK a few months ago.

Let me get this straight.
You got a loan for the bike.
You paid someone for the bike.
The bike got stolen.
You continued to pay on the loan.
The bike was never and is still not titled in your name.
The police came to you when it was found.
Is all of this correct?

[Meh]

Let me get this straight.
You got a loan for the bike.
You paid someone for the bike.
The bike got stolen.
You continued to pay on the loan.
The bike was never and is still not titled in your name.
The police came to you when it was found.
Is all of this correct?

Yes. The title is still titled in the name of the previous owner as it's in limbo with the state pending docs showing it's been recovered. The police came to me because i reported it stolen and it's my name that is in the NICB when the vin gets pulled up.

[tinfoilhat]

I know someone who's been through this.
You're screwed. The title is not in your name so you're not the owner. It does not matter if you paid for it, the title determines ownership and if it's been in someone elses name for 2 years you might as well kiss it good bye.
You paid someone and got nothing.

I watched this happen to someone right about a year ago, it was a bike, this person bought it, the title transfer didn't happen yet, the previous owner knew this and took it back, it was reported stolen, the person I knew took it back from them.
The police made her give the bike back to the titled owner. She almost went to jail for theft because it was in her garage even though she paid cash for it.

I'll be damned if I'd pay two years on a bike that was stolen. You payed two years on nothing?

It's a good thing I'm not a trustee, I have too many suspicions.

I'm sorry, it's just my opinion, I'll never know who you are. I'm not judging you, I'm judging the situation.

Good luck. On one hand it looks like this won't be a big deal, but on the other it looks like something else.

I guess if you're not the owner it shouldn't be an issue in your bk. But you made payments on what? and why? Thats a tough one.

[Meh]

I know someone who's been through this.
You're screwed. The title is not in your name so you're not the owner. It does not matter if you paid for it, the title determines ownership and if it's been in someone elses name for 2 years you might as well kiss it good bye.
You paid someone and got nothing.

I watched this happen to someone right about a year ago, it was a bike, this person bought it, the title transfer didn't happen yet, the previous owner knew this and took it back, it was reported stolen, the person I knew took it back from them.
The police made her give the bike back to the titled owner. She almost went to jail for theft because it was in her garage even though she paid cash for it.

I'll be damned if I'd pay two years on a bike that was stolen. You payed two years on nothing?

It's a good thing I'm not a trustee, I have too many suspicions.

I'm sorry, it's just my opinion, I'll never know who you are. I'm not judging you, I'm judging the situation.

Good luck. On one hand it looks like this won't be a big deal, but on the other it looks like something else.

I guess if you're not the owner it shouldn't be an issue in your bk. But you made payments on what? and why? Thats a tough one.

I was thinking the same thing, but lucky for me I called the previous owner last night and explained the situation. He's happy to help in any way he can. He has offered to take a day off and go up to the DMV with me to get this settled, but im waiting to see how this plays out in BK first. He's really a stand up guy, im lucky in that respect.