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    #1

    Question about motorcycle?

    I had a motorcycle stolen about a year ago and I owed 8000 dollars on it. I will be going with a paralegal to help me start my bankruptcy, and everyone on here has pointed me to that direction, due to the fact I know him and all that. Would it be better for me to go with a lawyer since it is a vehicle or is it still considered a debt, like a credit card?
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    #2
    Originally posted by MOCAZEN View Post
    I had a motorcycle stolen about a year ago and I owed 8000 dollars on it. I will be going with a paralegal to help me start my bankruptcy, and everyone on here has pointed me to that direction, due to the fact I know him and all that. Would it be better for me to go with a lawyer since it is a vehicle or is it still considered a debt, like a credit card?
    Did insurance not pay for the stolen motorcycle? Is this 8k the sole reason for filing bk?
    -Filed Ch7 pro se 04/14/2010
    -341 Meeting is 05/24/2010 (went uneventfully well)
    -Report of No Distribution 6/4/2010
    -Discharge 7/28/2010

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      #3
      sorry i didnt have full coverage, and no there are also other credit cards and I do not have any property to worry about.

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        #4
        Originally posted by MOCAZEN View Post
        I had a motorcycle stolen about a year ago and I owed 8000 dollars on it. I will be going with a paralegal to help me start my bankruptcy, and everyone on here has pointed me to that direction, due to the fact I know him and all that. Would it be better for me to go with a lawyer since it is a vehicle or is it still considered a debt, like a credit card?
        You said you had a loan on it, but is there a lien on the motorcycle? (Probably not because you state below that you didn't have full coverage on it, and that's normally required if there is a lien on the motorcycle.)

        I may be mistaken, but I think if there wasn't a lien on the bike then it would be treated as an unsecured debt like a credit card.
        Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
        I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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          #5
          what if it did have a lien? but remember I have no property that they can come after.

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            #6
            Originally posted by MOCAZEN View Post
            what if it did have a lien? but remember I have no property that they can come after.
            Take a look at your loan papers. If they state that you have to keep full insurance on the motorcycle then you could have a problem. Think of it this way: If you didn't pay on the motorcycle they would have the right to repossess it. Filing bankruptcy doesn't take away their interest in the motorcycle, it only removes your liability to pay for it. They still have the right to come and get it, and yet you don't have it.
            Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
            I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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