Surrender Vehicle - 341 Meeting & #of days before Automatic Stay lifted

[billybob2016]

When surrendering a vehicle I read somewhere that the creditor is no longer held to the automatic stay 45 days after the 341 meeting. Anyone with knowledge of this?

In a nutshell, a bank can repo a vehicle 45 days after the 341 meeting (prior to discharge).

Looking forward to your replies.

[LadyInTheRed]

You have it right, except that it may be 30 days instead of 45 days. Nolo mentions a contradiction in the law at http://www.nolo.com/legal-encycloped...red-debts.html

If found the contradiction. It would be 30 days under Bankruptcy Code Section 521(a)(2)(B), but 45 days under section 521(a)(6). You can read the law at https://www.law.cornell.edu/uscode/text/11/521

[billybob2016]

Thank you Lady...

[vtbk1]

realize this is a 10 month old thread-but will you get any warning prior to the repossesion? same boat- truck is only source of transportation, thought I would have it until discharge, was also hoping to get some notice prior. need to prepare, find another car....

[justbroke]

realize this is a 10 month old thread-but will you get any warning prior to the repossesion? same boat- truck is only source of transportation, thought I would have it until discharge, was also hoping to get some notice prior. need to prepare, find another car....

There is usually no warning on a repossession. However, for a bankruptcy, the lender would need to file a Motion for Relief From the Automatic Stay (RFS) in order to repossess. Once that is granted, expect the repossession to be stealth, or, with any luck, the lender will call to arrange a pickup/dropoff.

Always plan for the worse!