Trustee abandonment?

[325Falcon]

Our trustee has abandoned a car that has a lein on it. We are not reafirming on this loan.

Does this abandoment equal a lifting of the stay, so the creditor may repo the car now?

[almost]

What do you mean by abandoned. what is the laon amount and the sale value.

[coma]

I think that if he abandoned it, that means that he is satisfied that there is no equity worth pursuing. Lifting the stay is just that. The creditor would specifically have to file a motion with the court to lift the stay to be able to repo the vehicle.

[FreshLikeADaisy]

Ditto coma. Basically, you have multiple dogs on the same ham hock: just because one walked away doesn't mean anyone else automatically gets it. If you're not reaffirming, just plan to surrender it as soon as you can work out other transportation. It will save you the insurance money and the hassle of waiting and not knowing. Good luck!!!

[CindyLou]

yep, just means he decided it has no recoverable equity. Nothing ti do with the stay.