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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 16014
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I filed a chapter 7 bankruptcy and my attorney assured me that

Customer Question

I filed a chapter 7 bankruptcy and my attorney assured me that my auto would be protected. Today my creditor said they were repossessing my vehicle or I have to turn it over to them. They said this....Debtor failed to properly "complete" the statement of intent so the automatic stay was terminated. What does this mean and how can this happen. My attorney assured me I could continue payments as normal and everything would be fine.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 3 years ago.

WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

Did you agree in your petition that you would reaffirm the debt?

Customer:

where is the response?

WALLSTREETESQ :

In your chapter 7 petition, to keep your vehicle you have to reaffirm the secured loan, and in your statement of intention you need to specifically state you intend to reaffirm, meaning you intend to pay the loan.

Customer:

did you send me a response other than your question above?

WALLSTREETESQ :

If you are still in the bankruptcy and have not completed you discharge, it would be possiblt to amend your petition to reaffirm the car, and amend your statement of intention.

Customer:

My bankruptcy was discharged recently. I do not remember signing anything in those papers that say reaffirmation. I have my papers right here with me, what would I look for?

WALLSTREETESQ :

Look for your statement of intention, it should have stated the car loan, and your intention to reaffirm.

WALLSTREETESQ :

You may also have to file a motion to reopen and have the debt added to be reaffirmed, your attorney may have forgot to list the debt and have it reaffirmed.

Customer:

Is it specifically called a statement of intent at the top of the page and would it be part of the entire package that was submitted, copies that I signed right in front of the bankruptcy trustee?

WALLSTREETESQ :

yes, it would state on top Statement of Intention

Customer:

I am looking will you wait a minute for me?

WALLSTREETESQ :

It looks like the form I linked, it may be in the back.

Customer:

okay I am looking

Customer:

I have statement of financial affairs.....still looking going backwards

Customer:

I have schedule d - creditors holding secured claims

Customer:

schedule c - property claimed as exempt

Customer:

I am going to that link to see what it looks like, is it the same in all states?

Customer:

are you there?

WALLSTREETESQ :

yes

Customer:

It says part A...... EACH debt which is secured by property of the estate..... estate?

WALLSTREETESQ :

These are Federal forms and the same everywhere

WALLSTREETESQ :

It means the bankruptcy estate, which is you

Customer:

so any assets I wished to retian such as my house as well should have been on this form?

Customer:

retain

WALLSTREETESQ :

yes, then the lender would send you a form to reaffirm the loan.

Customer:

So this form , this debtors statement of intention seems like a "no brainer" when a person wants to keep an asset. I should be filed no matter what? Why and how could my bankruptcy attorney miss this most , very most important form?

WALLSTREETESQ :

I am not sure, I cannot imagine that he did not include it, however, you need to contact him and have him file a motion to reopen and include the car if you want to keep it.

Customer:

does this form have to be approved by the bankruptcy trustee? My income was right on the line with keeping my house and my car......would he have not filed it for fear of a non approval?

Customer:

I just cant believe he would just omit that form, he has been doing this for 30 years..

WALLSTREETESQ :

no, in almost all cases the trustee would approve a reaffirmation due to the fact you are actually paying your debt and the court wants you to pay it off.

Customer:

what would be any GOOD reason that this form would not be part of a routine filing?

WALLSTREETESQ :

Their is no reason, and it is a standard form, required by the Federal Courts, in ost instances.

Customer:

it sounds as though it should be a routine form.....

Customer:

omg

Customer:

really?

WALLSTREETESQ :

Yes it is, you need to contact him and find out, or directly go to the Bankruptcy court and ask them for a copy of the form if it was filed.

Customer:

I even called my creditors before I filed and then after I filed and then when I made my payment.....and no one advised me this was coming....

Customer:

I have my whole packet in front of me everything I filed and that was signed in front of the bankruptcy trustee that day of the hearing

Customer:

and it appears I would have had to sign this form

WALLSTREETESQ :

Another option is that he included them, but the refused to accept it.

WALLSTREETESQ :

That would be rare, as they rather have you pay the loan, instead of repossing the vehicle.

Customer:

No my bankruptcy trustee was really nice and if there was a problem with something I think I would have known right then

WALLSTREETESQ :

You need to have your attorney fix the problem, and it is not too late to do this, so contact him as soon as possible to file the motion.

WALLSTREETESQ :

If you have any further questions please do not hesitate to ask, if satisfied with our service please press the accept button so we can receive credit.

Customer:

I offered to pay the loan in full there is equity in the vehicle of about 4500......and they refused to accept it tongiht when all this stuff came down... I would have borrowed from my parents and repayed them.

Customer:

what is the motion called?

Customer:

thank you....

WALLSTREETESQ :

It would be a motion to reopen, to amend your statement of intention, basically your asking the court to reopen the case, and allow you to amend your petition, if allowed the reaffirmation agreement would be sent to the lender.

Customer:

?what is the motion called?

Customer:

thank you very much !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1

WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 16014
Experience: 14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
WALLSTREETESQ and 3 other Bankruptcy Law Specialists are ready to help you

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