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question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 1:23 pm
by Yahoo Bot

Yeah, I had a Greenwald case with Brad Krasnoff trustee and the debtor had gone more than 6 months from when he got the funds and he didn't reinvest w/in 6 months because his wife was dying of cancer. AG said the funds were NOT exempt, but he said the debtor ALWAYS has the right to amend his Sch C even if the case is reopened, and we took the wild card and made a deal. That's my experience in Greenwald's court. Chris gautschi
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Tuesday, March 30, 2004 11:54 AM
Subject: RE: [cdcbaa] question regarding voluntary surrender of vehicle
Thanks for the quick response and knowledge!
Wayne A. Wilhelm, Esq.
"David A. Tilem" wrote:
Failure to maintain insurance is post-petition breach of the agreement,
but could also be a post-petition tort for loss of value to the vehicle.
While Chapter 7 made the auto loan "non-recourse", this may not help
her. Consider whether your client is "judgment proof" or whether she
would make a good candidate for Chapter 13, i.e. she has other debts.
Then surrender the vehicle and see how the lender responds.
David A. Tilem
Certified Bankruptcy Specialist*?lt;br>Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Personal & small business bankruptcy specialist cert. by State Bar of
CA Bd of Legal Specialization.
? Business bankruptcy specialist cert. by Amer. Bd. of Certification
-----Original Message-----
Sent: Monday, March 29, 2004 5:59 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her statement of intention she elected to retain her vehicle and continue to
make
payments. She was recently involved in an auto accident and she and the
driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the payments. Any advice?
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a.. To visit your group on the web, go to:
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cdcbaa-unsubscribe@yahoogroups.com
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Yeah, I had a Greenwald case with Brad Krasnoff
trustee and the debtor had gone more than 6 months from when he got the funds
and he didn't reinvest w/in 6 months because his wife was dying of cancer. AG
said the funds were NOT exempt, but he said the debtor ALWAYS has the right to
amend his Sch C even if the case is reopened, and we took the wild card and made
a deal. That's my experience in Greenwald's court. Chris
gautschi
----- Original Message -----
From:
Wayne Wilhelm
To: cdcbaa@yahoogroups.com
Sent: Tuesday, March 30, 2004 11:54
AM
Subject: RE: [cdcbaa] question regarding
voluntary surrender of vehicle

Thanks for the quick response and knowledge!

Wayne A. Wilhelm, Esq."David A. Tilem" <
The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 11:55 am
by Yahoo Bot

Thanks for the quick response and knowledge.

Wayne A. Wilhelm, Esq.
"Mark J. Markus" wrote:

Sure. Just have her surrender it.

***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.


To: cdcbaa@yahoogroups.com
Sent: Monday, March 29, 2004 5:59 PM
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her
statement of intention she elected to retain her vehicle and continue to make
payments. She was recently involved in an auto accident and she and the
driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the
payments. Any advice?
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Yahoo! Groups Links
To visit your group on the web, go to:
http://groups.yahoo.com/group/cdcbaa/

To unsubscribe from this group, send an email to:
cdcbaa-unsubscribe@yahoogroups.com

Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Do you Yahoo!?
Yahoo! Finance Tax Center - File online. File on time.
Thanks for the quick response and knowledge.

Wayne A. Wilhelm, Esq."Mark J. Markus" <bklawr@bklaw.com> wrote:

Sure. Just have her surrender it.

***********************************************Mark J. MarkusLaw Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA 91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb: http://www.bklaw.com/****************** ... dentiality Note: This e-mail is intended only for the person orentity to which it is addressed and may contain information that is privileged,confidential, or otherwise protected from disclosure. Dissemination,distribution, or copying of this e-mail or the information herein by anyoneother than the intended recipient, or an employee or agent responsible fordelivering the message to the intended recipient, is prohibited. If youhave received this e-mail in error, please notify us immediately at (818)509-1173 or e-mail us at bklawr@bklaw.com and destroy the original message and all copies.


----- Original Message -----
From: waynewilhelmlaw
To: cdcbaa@yahoogroups.com
Sent: Monday, March 29, 2004 5:59 PM
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her statement of intention she elected to retain her vehicle and continue to make payments. She was recently involved in an auto accident and she and the driver of the other vehicle did not have insurance. She now wants to surrender the vehicle because she cannot afford to fix it and make the payments. Any advice?Do you Yahoo!?
Yahoo! Finance Tax Center - File online. File on time.

The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 11:54 am
by Yahoo Bot

Thanks for the quick response and knowledge!

Wayne A. Wilhelm, Esq.
"David A. Tilem" wrote:
Failure to maintain insurance is post-petition breach of the agreement,
but could also be a post-petition tort for loss of value to the vehicle.
While Chapter 7 made the auto loan "non-recourse", this may not help
her. Consider whether your client is "judgment proof" or whether she
would make a good candidate for Chapter 13, i.e. she has other debts.
Then surrender the vehicle and see how the lender responds.
David A. Tilem
Certified Bankruptcy Specialist*?lt;br>Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Personal & small business bankruptcy specialist cert. by State Bar of
CA Bd of Legal Specialization.
? Business bankruptcy specialist cert. by Amer. Bd. of Certification
Sent: Monday, March 29, 2004 5:59 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her
statement of intention she elected to retain her vehicle and continue to
make
payments. She was recently involved in an auto accident and she and the
driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the
payments. Any advice?
Yahoo! Groups Links
Yahoo! Groups Links
Do you Yahoo!?
Yahoo! Finance Tax Center - File online. File on time.
Thanks for the quick response and knowledge!

Wayne A. Wilhelm, Esq."David A. Tilem" <DavidTilem@TilemLaw.com> wrote:

The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 11:54 am
by Yahoo Bot

Thanks for the quick response and knowledge!
"Tyson M. Takeuchi" wrote:Hey Wayne,
My understanding is that upon filing, (and the listing of the vehicle within
the BK schedules), the debtor lost all PERSONAL liability as per that
vehicle. I've had this same situation come up about 10 times over the last
8 years. Simply tell your client to call the finance company and let them
know he/she wants to surrender the vehicle. The finance company will
probably know about the BK and his/her account is probably being handled by
the finance company's BK department or loss recovery department.
I have one case similar to yours that sticks out at me. My client listed
his brand new Acura, (worth $30k), in his schedules and then shortly after
the 341(a) demolished the car in a one-car accident. The car was towed to
his parent's home. Because the debtor lost all personal liability for this
car under his contract, HE harrassed the finance company to immediately
remove the car from his parent's house because it was blocking the
driveway!!! The finance company did not raise any fuss but promptly removed
the car!
If your client is liable for the two- car accident however, this is a
post-BK filing claim and obviously NOT covered by the discharge.
As always, please try to get a second opinion!!!
Ty Takeuchi
>Reply-To: cdcbaa@yahoogroups.com
>To: cdcbaa@yahoogroups.com
>Subject: [cdcbaa] question regarding voluntary surrender of vehicle
>Date: Tue, 30 Mar 2004 01:59:29 -0000
>
>I have a client who received a chapter 7 discharge in July 2003. In her
>statement of intention she elected to retain her vehicle and continue to
>make
>payments. She was recently involved in an auto accident and she and the
>driver of the other vehicle did not have insurance. She now wants to
>surrender the vehicle because she cannot afford to fix it and make the
>payments. Any advice?
>
>

The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 6:38 am
by Yahoo Bot

Hey Wayne,
My understanding is that upon filing, (and the listing of the vehicle within
the BK schedules), the debtor lost all PERSONAL liability as per that
vehicle. I've had this same situation come up about 10 times over the last
8 years. Simply tell your client to call the finance company and let them
know he/she wants to surrender the vehicle. The finance company will
probably know about the BK and his/her account is probably being handled by
the finance company's BK department or loss recovery department.
I have one case similar to yours that sticks out at me. My client listed
his brand new Acura, (worth $30k), in his schedules and then shortly after
the 341(a) demolished the car in a one-car accident. The car was towed to
his parent's home. Because the debtor lost all personal liability for this
car under his contract, HE harrassed the finance company to immediately
remove the car from his parent's house because it was blocking the
driveway!!! The finance company did not raise any fuss but promptly removed
the car!
If your client is liable for the two- car accident however, this is a
post-BK filing claim and obviously NOT covered by the discharge.
As always, please try to get a second opinion!!!
Ty Takeuchi
>Reply-To: cdcbaa@yahoogroups.com
>To: cdcbaa@yahoogroups.com
>Subject: [cdcbaa] question regarding voluntary surrender of vehicle
>Date: Tue, 30 Mar 2004 01:59:29 -0000
>
>I have a client who received a chapter 7 discharge in July 2003. In her
>statement of intention she elected to retain her vehicle and continue to
>make
>payments. She was recently involved in an auto accident and she and the
>driver of the other vehicle did not have insurance. She now wants to
>surrender the vehicle because she cannot afford to fix it and make the
>payments. Any advice?
>
>

The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Tue Mar 30, 2004 6:12 am
by Yahoo Bot

Failure to maintain insurance is post-petition breach of the agreement,
but could also be a post-petition tort for loss of value to the vehicle.
While Chapter 7 made the auto loan "non-recourse", this may not help
her. Consider whether your client is "judgment proof" or whether she
would make a good candidate for Chapter 13, i.e. she has other debts.
Then surrender the vehicle and see how the lender responds.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Personal & small business bankruptcy specialist cert. by State Bar of
CA Bd of Legal Specialization.
Sent: Monday, March 29, 2004 5:59 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her
statement of intention she elected to retain her vehicle and continue to
make
payments. She was recently involved in an auto accident and she and the
driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the
payments. Any advice?
Yahoo! Groups Links

The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Mon Mar 29, 2004 8:57 pm
by Yahoo Bot

Sure. Just have her surrender it.
***********************************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173
(818)509-1460 (fax)
e-mail: bklawr@bklaw.com
web: http://www.bklaw.com/
************************************************
Confidentiality Note: This e-mail is intended only for the person or
entity to which it is addressed and may contain information that is privileged,
confidential, or otherwise protected from disclosure. Dissemination,
distribution, or copying of this e-mail or the information herein by anyone
other than the intended recipient, or an employee or agent responsible for
delivering the message to the intended recipient, is prohibited. If you
have received this e-mail in error, please notify us immediately at (818)
509-1173 or e-mail us at bklawr@bklaw.com and destroy the
original message and all copies.
----- Original Message -----
To: cdcbaa@yahoogroups.com
Sent: Monday, March 29, 2004 5:59 PM
Subject: [cdcbaa] question regarding voluntary surrender of vehicle
I have a client who received a chapter 7 discharge in July 2003. In her
statement of intention she elected to retain her vehicle and continue to make
payments. She was recently involved in an auto accident and she and the driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the
payments. Any advice?
Yahoo! Groups Sponsor
ADVERTISEMENT
Yahoo! Groups Links
a.. To visit your group on the web, go to:
http://groups.yahoo.com/group/cdcbaa/
b.. To unsubscribe from this group, send an email to:
cdcbaa-unsubscribe@yahoogroups.com
c.. Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.

Sure. Just have her surrender
it.

***********************************************Mark J. MarkusLaw
Office of Mark J. Markus11684 Ventura Blvd. PMB #403Studio City, CA91604-2652(818)509-1173(818)509-1460 (fax)e-mail: bklawr@bklaw.comweb:
The post was migrated from Yahoo.

question regarding voluntary surrender of vehicle

Posted: Mon Mar 29, 2004 5:59 pm
by Yahoo Bot

I have a client who received a chapter 7 discharge in July 2003. In her
statement of intention she elected to retain her vehicle and continue to make
payments. She was recently involved in an auto accident and she and the
driver of the other vehicle did not have insurance. She now wants to
surrender the vehicle because she cannot afford to fix it and make the
payments. Any advice?

The post was migrated from Yahoo.