Wow,It's only been 4 days since I surrendered my Car...

[9877donna]

I'm suprised how quickly that banks move on 'surrendered' vehicles in BK.I just surrendered my car,which was part of my Chapter 7 BK,and the bank has already filed a 'lift of stay' so they can auction the car off before my discharge.
It was only 4 days ago if I don't count the weekend.
Geesh they move fast.
Donna

[poorme]

I don't understand why a lift is necessary, if they have the car. Generally, the lift is requested so they can proceed with repo proceedings and get their property back.

Me - I would file an objection to their lift request just on principle. Maybe the judge will slap them for filing unnecessary actions with the court -

[9877donna]

I don't understand why a lift is necessary, if they have the car. Generally, the lift is requested so they can proceed with repo proceedings and get their property back.

Me - I would file an objection to their lift request just on principle. Maybe the judge will slap them for filing unnecessary actions with the court -

I think they need the 'lift of stay' to auction the car off before the discharge.
They do give me until a certain date to 'object' to the lift of stay but why bother? It cost the bank $150.00 to get a hearing for that lift of stay...
They can have it.
Donna

[HHM]

Correct, even if the debtor's intention is to surrender the vehicle...if the BK has not been discharged, the bank still needs the lift stay to move on the asset.

[9877donna]

I'm suprised how quickly that banks move on 'surrendered' vehicles in BK.I just surrendered my car,which was part of my Chapter 7 BK,and the bank has already filed a 'lift of stay' so they can auction the car off before my discharge.
It was only 4 days ago if I don't count the weekend.
Geesh they move fast.
Donna

OMG.I almost had a heart attack when I saw the mail today.I had an official envelope with the name of 3 lawyers on it addressed to me.
It just ended up being the lawyers for the bank that I had the car loan from and they were notifying me about their request for the 'lift of stay' for my car.'Phew...scared the bejesus out of me!! I thought someone was objecting to discharge! Please oh please no.I only have 3 more weeks and then they can no longer object.
I am soooo nervous.I cannot wait till that period of time is over so I can breathe again.
Donna

[no_it_all]

Correct, even if the debtor's intention is to surrender the vehicle...if the BK has not been discharged, the bank still needs the lift stay to move on the asset.

Do I get a notice that the creditor is seeking a <lift of automatic stay> BEFORE the repo action begins or should I keep parking around the corner in my buddys garage??

[HHM]

LOL

You would typically receive a copy of the Motion to Lift Stay in the mail. (At a minimum, your attorney would receive a copy, and typically foward it to you).

[SinkingFast]

If you have a PACER acct, it will show there before you get a letter in the Mail.

Think of PACER as an early warning system.

[CindyLou]

Yep, I checked pacer almost daily while before my BK was discharged and then weekly until case closed. Good peace of mind and GREAT early warning system!!