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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I received a notice from the trustee of local rule 6007(a)

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I received a notice from the trustee of local rule 6007(a) intent to abandon for my 2004 vehicle and reasons stated are property burdensome to estate and property is of incomsequential value and benefit to estate. I have been making car payments for 5 years and have one year left with a 10% interest. do i get to keep the car?

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :

Welcome to JustAnswer,

So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification by using the reply button.

WebLaw :

When the trustee abandons property, it is typically good news for the debtor. This means that the trustee is not claiming any interest in the property for the benefit of the estate. You may keep the vehicle provided your payments are kept up to date

WebLaw :


Please use the REPLY button if you have any questions concerning my answer. Otherwise please click ACCEPT so that I am paid by the site for answering.

Customer:

so payments must continue to be made?

WebLaw :

yes you must continue to make the payments. If you do not make the payments the vehicle can be repossessed but a personal judgment may not be entered against you

Customer:

am i in a good position to re-negotiate the interest amount with the loan company?

WebLaw :

You can certainly try

WebLaw :

I hope that it helps to know this information

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