My cars and the 45 day rule?

[sh9730]

Ok, so my two car saga continues but Im curious as to what happens as I approach the 45 days from my 341 (my 341 was 6/3 so 45 days is Monday).

As my other posts have stated. I have two cars. Both purchased late last year.

The first is a purchase contract that I intend to surrender, but since the trustee has not yet abandoned interest I cannot get the bank to take it back. This car DID take awhile to register when I bought it, and the trustee mentioned something at my 341 that he was looking into a lien perfection on my vehicle. I assumed he was talking about THIS car.

My other car is a lease...in my SOI I indicated I wanted to reaffirm (assume) this lease. This car was registered in a timely manner and from what I understand on a lease I never really have any "interest" in the car anyway....so I reaffirmed and my lawyer signed and filed with the court. My lender indicated that even if the judge didnt approve it, they would do a "stay and pay", as long as I made all efforts to reaffirm. I was behind on payments, but sent a check to make it current. THEN, my trustee filed a motion to hold off on any action for THIS leased car saying he felt there may be value to the estate. So, luckilly I was able to stop payment on the check I had made out to the lender to bring current as I dont want to give them all that money if the trustee is going to keep this car. Neither the reaff agreement or my trustee motion has been heard as of yet (at least there is nothing in PACER approving or denying either motion - nor any court dates for hearings or anything).

SO, my question is....the trustee never did file any motion to try and keep the PURCHASED car (the one I hope to surrender) in the estate with the court. Does that mean after the 45 day mark I can finally try and get that lender to get this car out of my hands? (well actually it is in my ex girlfriends hands in another state...thats why I want to get rid of it!). My understanding is that unless he files a motion indicating he thinks there is value to the estate, the property is considered abandoned and the stay is lifted. Is that correct interpretation?

My thinking is that my trustee made a mistake on which car he filed the paperwork with the court on.....since I find it hard to believe he can get any interest in a "leased" vehicle, although I cannot find any cases on it either way. Even so, there is nothing I can do about that piece of the puzzle right now. Its between my lender and the trustee. It may mean I have to buy another car if somehow the trustee DOES get to keep this leased vehicle, but doesnt affect me otherwise.

But now that the 45 days is here, he may have to live with his error? I still want to get the other car surrendered ASAP. So can I start calling and bugging that lender on Tuesday?

Thanks.

[sh9730]

OK - just an update for anyone who cares - I ll probably update a couple of threads with this information since I was dumb and there is some overlap on a few of them.

I was contacted by an attorney's office associated with my Trustee. They were looking for information on one of the vehicles.

It turns out they HAD subpeonad (sp) the Motor Vehicle department on both cars in an effort to perfect the lien(s). They rec'd a response on the PURCHASED vehicle, and although the lien was in fact "untimely perfected', BUT BUT BUT, it did not fall within 90 days of my BK filing so it was not within the "preference period" and this attorney will be suggesting that the Trustee abandon this asset. Although I still dont understand this "preference period" completely yet, this is a good thing as this is the vehicle I have been trying to surrender, and now that they are done with it, I can get the lender to finally take it back!

As for the LEASED vehicle, they never got a response from Motor Vehicles, hence they were contacting me to get information on where I purchased it so they could investigate that way. I of course provided the information, but as a little side thing I mentioned I was surprised they were trying to check on this car since it was a lease. She emailed me right back and said she was UNAWARE it was a lease, and would not be pursuing it unless the Trustee directed her to do so (which she didnt think was likely). She is fairly sure that once she gets approval from the Trustee, she will withdraw the Motion to Maintain Stay, and then my reaff (assumption) agreement can move forward as normal, although the judge probably wont APPROVE the reaff anyway...but at least then I can do the ride through since my lender has said as long as I ve made every effort to reaff, they will let me keep the car.

SO, one more thing checked off the list I hope!

[AngelinaCatHub]

My thinking is that my trustee made a mistake on which car he filed the paperwork with the court on.....since I find it hard to believe he can get any interest in a "leased" vehicle, although I cannot find any cases on it either way. Even so, there is nothing I can do about that piece of the puzzle right now. Its between my lender and the trustee. It may mean I have to buy another car if somehow the trustee DOES get to keep this leased vehicle, but doesnt affect me otherwise.

OK, I've enjoyed your threads in multiples. However, we had an old car that was a non working classic. Told him what it was (the Trustee). We got a Court Paper of abandonment of our homestead, that car, and some other thing, I can't recall. I would not jump to conclusions. I believe he has to tell you what potential assets he abandons or you could end up having to pay for an item you liquidated without permission. Remember, your stuff is now his as your estate is in Federal BK control. 'Hub

[sh9730]

Yeah, I apologize again for the multiple threads....my questions seemed to end up with replies that required discussing the same things in multiple places.

Yes, it was a mistake....the motion to keep the leased car in the estate should never have been filed. The attorney was really surprised to find out it was a lease when I sent her that email. As I said in the other threads now....within an hour of this email exchange my Trustee filed a Report of No Distribution - so all vehicles officially abandoned now and I can move on with the reaff on the lease and surrender of the other car.

[AngelinaCatHub]

Ok, so my two car saga continues but Im curious as to what happens as I approach the 45 days from my 341 (my 341 was 6/3 so 45 days is Monday).

As my other posts have stated. I have two cars. Both purchased late last year.

The first is a purchase contract that I intend to surrender, but since the trustee has not yet abandoned interest I cannot get the bank to take it back. This car DID take awhile to register when I bought it, and the trustee mentioned something at my 341 that he was looking into a lien perfection on my vehicle. I assumed he was talking about THIS car.

My other car is a lease...in my SOI I indicated I wanted to reaffirm (assume) this lease. This car was registered in a timely manner and from what I understand on a lease I never really have any "interest" in the car anyway....so I reaffirmed and my lawyer signed and filed with the court. My lender indicated that even if the judge didnt approve it, they would do a "stay and pay", as long as I made all efforts to reaffirm. I was behind on payments, but sent a check to make it current. THEN, my trustee filed a motion to hold off on any action for THIS leased car saying he felt there may be value to the estate. So, luckilly I was able to stop payment on the check I had made out to the lender to bring current as I dont want to give them all that money if the trustee is going to keep this car. Neither the reaff agreement or my trustee motion has been heard as of yet (at least there is nothing in PACER approving or denying either motion - nor any court dates for hearings or anything).

SO, my question is....the trustee never did file any motion to try and keep the PURCHASED car (the one I hope to surrender) in the estate with the court. Does that mean after the 45 day mark I can finally try and get that lender to get this car out of my hands? (well actually it is in my ex girlfriends hands in another state...thats why I want to get rid of it!). My understanding is that unless he files a motion indicating he thinks there is value to the estate, the property is considered abandoned and the stay is lifted. Is that correct interpretation?

My thinking is that my trustee made a mistake on which car he filed the paperwork with the court on.....since I find it hard to believe he can get any interest in a "leased" vehicle, although I cannot find any cases on it either way. Even so, there is nothing I can do about that piece of the puzzle right now. Its between my lender and the trustee. It may mean I have to buy another car if somehow the trustee DOES get to keep this leased vehicle, but doesnt affect me otherwise.

But now that the 45 days is here, he may have to live with his error? I still want to get the other car surrendered ASAP. So can I start calling and bugging that lender on Tuesday?

Thanks.

Yeah, I apologize again for the multiple threads....my questions seemed to end up with replies that required discussing the same things in multiple places.

Yes, it was a mistake....the motion to keep the leased car in the estate should never have been filed. The attorney was really surprised to find out it was a lease when I sent her that email. As I said in the other threads now....within an hour of this email exchange my Trustee filed a Report of No Distribution - so all vehicles officially abandoned now and I can move on with the reaff on the lease and surrender of the other car.

Cool, and Grats. Worked out after all. Too much energy wasted in stress. No hamster dance though till your discharge, soon. 'Hub