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BMW redemption
You can tell 722 to raise their valuation as long as its still beneficial to your client. Additionally, you can agree to settle on a valuation with an objecting creditor by stipulation.
My experience with redemptions is that they are only worthwhile when the debtor is very upside-down in their vehicle.
Christie Cronenweth
Law Offices of Christie Cronenweth
25202 Crenshaw Blvd., Suite 207
Torrance, CA 90505
310-257-4995 ph
310-257-4996 fx
cronenwethlaw@yahoo.com
www.cronenwethlaw.com
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> On Dec 7, 2018, at 9:07 AM, Webblaw@Gmail.com [cdcbaa] wrote:
>
> I have had the same experience as Sam. The lenders have learned that a simple objection will work.
>
>
>
> Larry Webb
>
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>
> California Board of Legal Specialization
>
> Certified Specialist in Bankruptcy Law
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> Map Location
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> Webblaw@gmail.com
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> Sent: Friday, December 7, 2018 8:28 AM
> To: cdcbaa@yahoogroups.com
> Subject: [cdcbaa] Re: BMW redemption
>
>
>
>
>
> I have experienced problems with 722redemption in the past. They tend to offer a redemption value that is too low for creditors to accept. Since a Motion to Redeem is required, the few times that I tried this, the lender objected and the final deal was not favorable. Plus, the allowed fees are only about $600 for this work.
>
> I have found that, if the Debtor is working, it is better to surrender the vehicle and have the Debtor obtain financing on a new car. There are a few dealers who will finance a wage earner immediately after the filing of the bankruptcy. Rock Honda is one.
>
>
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Dear John,
You can try https://www.722redemption.com/.
Good luck,
Nick
Nicholas Gebelt
Nicholas Gebelt, Ph.D., J.D.
Attorney at Law
Certified Bankruptcy Law Specialist State Bar of California Board of Legal Specialization
Law Offices of Nicholas Gebelt
15150 Hornell Street
Whittier, CA 90604
Phone: 562.777.9159
FAX: 562.946.1365
Email: ngebelt@goodbye2debt.com
Web: www.goodbye2debt.com
Blog: www.southerncaliforniabankruptcylawblog.com/
Important notice required by 11 U.S.C. 528: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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722redemption.com
Christie Cronenweth
Law Offices of Christie Cronenweth
25202 Crenshaw Blvd., Suite 207
Torrance, CA 90505
310-257-4995 ph
310-257-4996 fx
cronenwethlaw@yahoo.com
www.cronenwethlaw.com
Confidentiality
The information contained in this email message is legally privileged
and confidential information intended only for the use of the individual
or entity named. If the reader of this message is not the intended recipient,
you are advised not to read the attachments and you are hereby notified
that any dissemination, distribution or copy of this email is strictly prohibited. This email is an Attorney-Client communication, and an Attorney-Client work product.
If you have received this email in error, please immediately notify us by
telephone and delete the email. Thank you.
The Law Offices of Christie Cronenweth is a debt relief agency engaged in the practice of aiding people to file for bankruptcy under the Bankruptcy Code.
> On Dec 6, 2018, at 10:27 AM, John Faucher j.d.faucher@sbcglobal.net [cdcbaa] wrote:
>
> Hello bankruptcy practitioners:
> Client has a BMW, and he owes $25,000 on it. Kelley Blue Book says it's worth $12,200. He may want to redeem the car, although he obviously doesn't have $12,200 lying around in cash.
> My questions: 1. Does anyone have a lender who is willing to help with such a redemption?
> 2. How do we set the fair market value for the redemption? Does BMW Financial Services accept Blue Book values, or is an appraiser required?
> Thanks for all help you can offer.
> - John D. Faucher
> 818/889-8080
>
>
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Hello bankruptcy practitioners:Client has a BMW, and he owes $25,000 on it. Kelley Blue Book says it's worth $12,200. He may want to redeem the car, although he obviously doesn't have $12,200 lying around in cash.h such a redemption?2. How do we set the fair market value for the redemption? Does BMW Financial Services accept Blue Book values, or is an appraiser required?Thanks for all help you can offer.- John D. Faucher818/889-8080
Hello bankruptcy practitioners: Client has a BMW, and he owes $25,000 on it. Kelley Blue Book says it's worth $12,200. He may want to redeem the car, although he obviously doesn't have $12,200 lying around in cash. My questions: 1. Does anyone have a lender who is willing to help with such a redemption? 2. How do we set the fair market value for the redemption? Does BMW Financial Services accept Blue Book values, or is an appraiser required? Thanks for all help you can offer. - John D. Faucher 818/889-8080
The post was migrated from Yahoo.