Vehicle redemption

[chris88]

Good evening! I will file ch7 very soon and have few questions in mind.

I want to redeem my vehicle as it's upside down and the difference is huge.

- Do I have to put it in schedule C or not? is so, what is the Specific laws that allow exemption.
- The question "Did you claim the property as exempt on Schedule C?" answer it as Yes or NO?
- How can I file Motion to redeem after filling? I checked online but none of them are for PA.

Any advice or tips are appreciated.

Thank you,

[justbroke]

- Do I have to put it in schedule C or not? is so, what is the Specific laws that allow exemption.

Everything goes as normal. You still schedule in on Schedule B and exempt any equity on Schedule C.

- The question "Did you claim the property as exempt on Schedule C?" answer it as Yes or NO?

If there is equity you should do this. (I exempted the equity above what was on Schedule B and what I had for exemptions. This, on my forms, was not based on the "liquidation value" used on the Motion to Redeem.)

- How can I file Motion to redeem after filling? I checked online but none of them are for PA.

Unless there is a "local form" then you just file a motion using motion captioning for your district. I will warn you, though, that redemptions run under FRBP Rule 6008 which require more stringent servicing. Redemption is a "contested" matter and you must use the procedures, under Rule 9014, which are just about the same for a complaint (lawsuit) within the bankruptcy.

That means service of the Motion to Redeem on "all" addresses on the Claim (usually 2 addresses), as well as service on an officer or the registered agent for the company. All three of those entities/people served must be done by a third party (proof of service of a third party), and you still need to serve the Trustee in your case.

You must also secure financing and the "how" you're going to pay for any granted redemption, must be in the Motion.

See my comments throughout this forum by searching...

https://www.bkforum.com/forum/before...18#post1016718

https://www.bkforum.com/forum/before...27#post1010127

https://www.bkforum.com/forum/before...27#post1010127