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Got discharge - Still have vehicle???

Date: Mon, 05/14/2007 - 19:51
Submitted by bschindle on Mon, 05/14/2007 - 19:51
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I got my discharge in the mail today, but I am a little confused over the fact that a 4-wheeler that was included in debts owed is still in my possession. My attorney told me when I filed if they don't get a court order before my discharge they can't come after it, just does not make sence to me why a creditor would not go after a $4,000 4-wheeler. I still have it and insure it, but don't have a title to it.

What is going to happen to it?

Any insight would be great.


i am not sure how it works with a 4 wheeler but my ex had a chapter 7 back in 97,at which time he owned a truck. the bank didnt appear for court so he kept the truck and received a clear title in about 6 weeks.the bank decieded that it wasnt worth the hassle to get it and the ex still owed a few thousand on it.


Submitted by rlg_miller on Tue, 05/15/2007 - 03:14

rlg_miller

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I'm guessing that (pick one, two, or all three):

a) The creditor did not object, probably because the vehicle would have a low resale value. Gotta pay an attorney several hundred bucks an hour, to recover a vehicle that may possibly re-sell for less than the attorney's fees.

b) The trustee did not feel it was worth trying to sell...I'm guessing here that 4 wheelers have a remarkable depreciation rate.

c) It qualified under some exemption.


Submitted by Morningstar on Tue, 05/15/2007 - 04:04

Morningstar

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