I'm discharged...but what does this mean?

[UpsideDown99]

I've already been discharged...and gotten most of my situation straightened out... about to start the long process of rebuilding... I am actually looking forward to it.

Anyway, I reaffirmed my car. I am straight on my house... but my fourwheeler is a little strange.

I received no affirmation on it, and I wasn't concerned.... my lawyer said some of them wouldn't require it.


I just found all the titlework on it, and we never transferred the title! So their lien was never perfected. I called them and they said to continue making payments...although I will never recieve another bill.

Whats the deal here? Anyone have any idea?

[Mi Bankruptcy]

Well, they wont report your payments to the credit agencies and you legally don't owe them anything. If you want to sell it then I would be concerned about a clear title. However, if you plan on holding on to it I would seriously consider not making anymore payments and see if they want to come and get it. If need be you could apply for a lost title in 4-5 years.

Worst case scenario you could make payment sto your savings account and if they try to take it back, pull out the money out and offer it to them.. Of course, that wouldn't be until they are at your door.

[NoMoreCards]

Sounds like this will be a ride-through. Whereas you make the payments and when the item is paid in full, they will send a release of the lien to clear the title. Having a title that was not transferred or perfected...I do not know the impact of that. But I suspect someone here can help.

[UpsideDown99]

Sounds like this will be a ride-through. Whereas you make the payments and when the item is paid in full, they will send a release of the lien to clear the title. Having a title that was not transferred or perfected...I do not know the impact of that. But I suspect someone here can help.

Thats my biggest issue here... I am not concerned on making the payments. I owe for an ATV and I will certainly continue the payments, since I am keeping it. I am wondering if they won't release the lien at the end...on the grounds that there is no perfected lien.

[NoMoreCards]

So who's names are on the title?
Previous owner? Just yours without the lien holder??

[UpsideDown99]

So who's names are on the title?
Previous owner? Just yours without the lien holder??

It was new.... so its still has the dealerships on it. DH must have forgotten to title(and now we'll owe some helacious back taxes on it as well....).

[Chowder]

If you have a title, with no lien-holder. Why are you paying anyone?

[UpsideDown99]

If you have a title, with no lien-holder. Why are you paying anyone?

The title has not yet been transferred... hence the imperfect lien mentioned above....

[Chowder]

Yes. I saw that. Point is, if that is the only title issued, the creditor has no claim to the asset. Why would you pay them?