.jpg)
In a Chapter 7 where debtor plans to keep the vehicle I got this from
"Ford Motor Credit Company LLC may exercise the right to repossess your
client's vehicle even if payments are kept current.
Since your client has filed for bankruptcy protection, Ford Motor Credit
Company can no longer send your client invoices, and will not otherwise be
in contact with your client regarding the subject vehicle. You may wish to
advise your client accordingly, and consult with your client concerning
your client's rights and responsibilities regarding the subject vehicle.
Sections 362(h) and 521(a) of the Bankruptcy Code provide for a termination
of the automatic stay where an individual debtor fails to file an accurate
Statement of Intention or to perform their intention with respect to
retained personal property by either reaffirming the debt or redeeming the
property.
Please take notice that Ford Motor Credit Company intends to strictly
enforce, to the full extent permitted by law, those contract provisions
which make a bankruptcy filing an Event of Default. If your client does
not reaffirm or redeem as required by the Bankruptcy Code, Ford Motor
Credit Company will seek to enforce all of its rights including the right
to repossess your client's vehicle. Ford Motor Credit Company may exercise
the right to repossess your client's vehicle even if payments are kept
current. Pay and retain is no longer an option.
If you client wishes to reaffirm, please contact FMCC at 1-800-955-8532 to
request a reaffirmation agreement.
Sincerely,
Ford Motor Credit Company
National Bankruptcy Service Center"
ARE THEY NOW CHANGING ITS POLICY?
R. Grace Rodriguez, Esq.
Full service Real Estate Attorney &
California State Bar
Certified Bankruptcy Specialist
OFF: (818) 734-7223
CEL: (818) 554-9922
"Ford Motor Credit Company LLC may exercise the right to repossess your client's vehicle even if payments are kept current. Since your client has filed for bankruptcy protection, Ford Motor Credit Company can no longer send your client invoices, and will not otherwise be in contact with your client regarding the subject vehicle. You may wish to advise your client accordingly, and consult with your client concerning your client's rights and responsibilities regarding the subject vehicle. Sections 362(h) and 521(a) of the Bankruptcy Code provide for a termination of the automatic stay where an individual debtor fails to file an accurate Statement of Intention or to perform their intention with respect to retained personal property by either reaffirming the debt or redeeming the property. Please take notice that Ford Motor Credit Company intends to strictly enforce, to the full extent permitted by law, those contract provisions which make a bankruptcy filing an Event of Default.y Code, Ford Motor Credit Company will seek to enforce all of its rights including the right to repossess your client's vehicle. Ford Motor Credit Company may exercise the right to repossess your client's vehicle even if payments are kept current. Pay and retain is no longer an option. If you client wishes to reaffirm, please contact FMCC at 1-800-955-8532 to request a reaffirmation agreement. y, rvice Center"ARE THEY NOW CHANGING ITS POLICY?R. Grace Rodriguez, Esq.Full service Real Estate Attorney &California State BarCertified Bankruptcy Specialist OFF: (818) 734-7223CEL: (818) 554-9922
The post was migrated from Yahoo.