QUESTION
Is it abandonment if I filed chapter 13 on a vehicle in April of 2015 and they still haven’t repossessed it?
Asked on Jun 13th, 2017 on Bankruptcy - Ohio
More details to this question:
The vehicle has not been repossessed and has been sitting on my property for almost two years. Since they haven't retrieved it, is it considered abandonment? What should I do about the vehicle? It isn't tagged and I do not have the title.
2 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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A lender has the right but no obligation to repossess a vehicle when the loan is in default. If the vehicle is a nuisance, file a motion to modify your Chapter 13 to allow you to junk the vehicle.
Answered on Aug 30th, 2017 at 6:21 PM
Filing a Chapter 13 resulted in the bankruptcy court issuing a STAY preventing the lender from repossessing the vehicle. So as there is a court order stopping the creditor from acting, you can hardly say that the lender has ABANDONED the vehicle.
Answered on Aug 30th, 2017 at 6:21 PM