Surrendering vehicle, no word from lienholder to pick up?

[checkinout]

Hi Everybody,

I had my 341 meeting close to 2 months ago, and almost a month ago to the day my atty e-mailed me asking me to call a gentleman regarding surrendering my vehicle. I called him, found he works for NBS, apparently a 3rd party intermediary for bankruptcy related outsourcing. I gave him all my info, location of the motorcycle, contact numbers, etc. He said that the lienholder would be in touch to set up a date/time to reclaim the motorcycle.

Now the discharge should happen within the next week or so.. Is there any kind of time limitation on when they can reclaim property that I chose to surrender? Haven't received any calls or letters about coming to pick the motorcycle up. A friend of mine who went through Ch7 a couple years ago had a hot tub that he chose to surrender, and after discharge the company never contacted him. His atty advised him it was considered abandoned, and do with it what he wanted. Granted, a bike with a title and VIN is a bit different than a hot tub... But just wondering what to expect, etc. Can the lienholder call me months down the road after discharge to get this back?

Anybody ever experience anything similar?

Thanks!

[backtoschool]

You do not own the property if there is still a lien on it even though you are no longer responsible for the debt since you surrendered it in your bk. It is up to the lien holder to contact you and yes, they can take months or even years to do so if they want to. The hot tub is unsecured debt and the motorcycle is secured by a lien, so you cannot sell the property,and since there is still a lien on the property.

[checkinout]

My buddy's hot tub was an actual secured loan, not just purchased with a cc. After the discharge his attorney said he was free to do with it as he wished, especially since he was moving out of his house that was getting forclosed on (where the hot tub sat until he sold it)

I understand what you're saying though, unless the lien was actually released I'm not the real owner. Guess I'll just enjoy it until they get their stuff together and come get it.

[tcreegan]

Hi checkinout,

Look on PACER for the trustees report to make sure they have abandoned their interest in the asset/motorcycle.

Enjoy the ride as long as you can, maybe they will forget about it...

You can always hope....

Tom in Colo

[researchnerd]

The lienholder is unlikely to contact you until discharge because you are still protected by the Stay. They could go through your attorney, but probably won't bother. Just enjoy your ride until they get around to asking for it back!