Legal Question in Bankruptcy in Maryland
secured debt
My fiance' and I are splitting up. We purchased a boat thru Bank of Amer. in here name. She is filing a Ch 7 and including it. I am trying to buy it for the pay-off +/-. I don't want to lose the 2 yrs of payments I have made. Can she sell it for pay-off (which is NADA Value) without it effecting her case? Also, can anything be done with the creditor directly or does it have to wait until after the Creditor Hearing?
Asked on 5/24/07, 10:56 am
1 Answer from Attorneys
Alton Drew
Alton Drew, LLC
Re: secured debt
Since she has listed the creditor and the boat on her schedules, she will need permission from the trustee to sell the boat. You can contact the creditor directly. You do not have to wait until the creditor hearing.
Answered on 5/24/07, 11:38 am
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