Central District Consumer Bankruptcy Attorney's Association

Have the insurance company pay out to the Trustee. Amend plan to lower
payments, since debtor will need to purchase or lease a replacement vehicle
and you can pay the same percentage to class 5 with a lower plan payment,
since the secured claim is taken out.
On Thu, Mar 21, 2013 at 5:23 PM, R Grace Rodriguez wrote:
> **
>
>
> Dear Members:
>
> Debtor had accident that totalled car being paid in the plan. His
> insurance carrier is trying to pay off the loan pursuant to the terms of
> his comp and collision carrier. BUT lender for car is refusing the funds
> because of the bankruptcy.
>
> I'm absolutely flummoxed. What now? What would you do?
>
> 1. (Not sure if I can be this naughty but....) Amend Plan to surrender
> vehicle to Creditor. Make wild card claim on the insurance proceeds so
> debtor can buy replacement vehicle?
>
> 2. Something else less nasty? What?
>
> Thanks for your ideas in advance.
>
> Renay
>
>
>
>
Clifford Bordeaux
Bordeaux Law, P.C.
790 E. Colorado Boulevard, 9th Floor
Pasadena, CA 91101
T: 626-405-2345 / F: 626-4-628-1820 E: cliff@bordeauxlaw.com
Have the insurance company pay out to the Trustee. Amend plan to lower payments, since debtor will need to purchase or lease a replacement vehicle and you can pay the same percentage to class 5 with a lower plan payment, since the secured claim is taken out.
On Thu, Mar 21, 2013 at 5:23 PM, R Grace Rodriguez <
The post was migrated from Yahoo.

Dear Members:
Debtor had accident that totalled car being paid in the plan. His
insurance carrier is trying to pay off the loan pursuant to the terms of
his comp and collision carrier. BUT lender for car is refusing the funds
because of the bankruptcy.
I'm absolutely flummoxed. What now? What would you do?
1. (Not sure if I can be this naughty but....) Amend Plan to surrender
vehicle to Creditor. Make wild card claim on the insurance proceeds so
debtor can buy replacement vehicle?
2. Something else less nasty? What?
Thanks for your ideas in advance.
Renay
Dear Members: Debtor had accident that totalled car being paid in the plan. His insurance carrier is trying to pay off the loan pursuant to the terms of his comp and collision carrier. BUT lender for car is refusing the funds because of the bankruptcy.
I'm absolutely flummoxed. What now? What would you do?1. (Not sure if I can be this naughty but....) Amend Plan to surrender vehicle to Creditor. Make wild card claim on the insurance proceeds so debtor can buy replacement vehicle?
2. Something else less nasty? What?Thanks for your ideas in advance.Renay

The post was migrated from Yahoo.