Filed bankruptcy and they have not taken my car
I filed bankruptcy 1 year ago. It was discharged in May of 2005. There was a security interest with the bank on my truck and that was also included in the bankruptcy. I've had my truck now since then, and they (the bank) have not called or come to pick up the truck. I currently have the title to the truck. Is the truck mine or what should I do?
1 Answer from Attorneys
Re: Filed bankruptcy and they have not taken my car
Interesting questions. Sadly, I don't have enough info from your question to tell you exactly what to do. If you had a lawyer for your bankruptcy, call that person and ask your questions. If you didn't have a lawyer, it's time to talk with one now.
Here are some considerations. Check your title. Is the lender actually on there as a secured party? If so, you have to deal with the lender sooner or later.
If the lender is not on the title, there is a possibility that the bankruptcy trustee has become the secured party. Unperfected security interests belong to the trustee. You should have been asked by the trustee if the lender was on the title. If you said yes and the answer is no, that could be a problem with your bankruptcy. I would like to know if your file is open or not. Lots of cases are discharged, but the files are left open for a long time. If the file is open the trustee can still act. If it's been closed, the trustee can reopen it but they tend to not want to bother.
Another consideration. In your bankruptcy petition you were required to state your intention with regard to the car loan. Your choices were redeem, continue to pay and retain the property, reaffirm the debt, or surrender the security. You are required to carry out your stated intention. So what intention did you state? If you don't know, why don't you know?
You impress me as someone who did this without a lawyer, and who now could be a good example of why you should not have done that. Your truck is probably not the only loose end you have, just the most visible one.
My consult fee is $100, and my contact info is at http://www.mn-bankruptcy.com.