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Paul K, Esq.
Paul K, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 141
Experience:  10 years Exp., Great customer service, Prompt responses.
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I filed and discharged bankruptcy in 2010. I listed a loan

Customer Question

I filed and discharged bankruptcy in 2010. I listed a loan against my motorcyle in the filing, but I forgot to add the motorcycle to SCHEDULE C. Its value is under $3525. Can I amend my bankruptcy Schedule C now to claim the property exempt? The loan has been zeroed out but I need to take title or it will be reposessed?
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  Paul K, Esq. replied 1 year ago.

Paul K, Esq. :

Hello, my name is XXXXX XXXXX I would love to assist you. Give me a moment to research your issue and I will answer promptly.

Paul K, Esq. :

Yes you can amend the Schedule C.

Paul K, Esq. :

The only time there is a question on it...

Paul K, Esq. :

is if you did not originally list the motorcycle, as in tried to hide it.

Paul K, Esq. :

It does not sound as if you did that here

Paul K, Esq. :

So you are free to amend at any time and I recommend doing it ASAP.

Paul K, Esq. :

If you have any more questions, please let me know! Also don't forget to provide a positive rating so that we get credit for our session! Have a great week.

Paul K, Esq. :

I will be online off and on tonight, so feel free to post a question and I will get back to you as soon as possible!!!

Customer:

Can you tell me the link to the forms I need to amend?

Paul K, Esq. :

Sure, let me pull that up.

Paul K, Esq. :

This is a writable Schedule C.

Customer:

ya got that one. what about a cover sheet for the amendment?

Customer:

thanks!

Paul K, Esq. :

Basically type everything from your original on it, and then add in the motorcycle.

Paul K, Esq. :

There is no cover sheet, just write amended on it

Paul K, Esq. :

Then do a Certificate of Service, stating that you served on all parties

Paul K, Esq. :

Then just file it with court and you will be good.

Paul K, Esq. :

There is no required form of certificate of service. The certificate needs to be signed and dated by the Debtor and must include the following information:



  • The name of the Debtor and the case number

  • The names of the documents that were sent

  • The names and addresses of the parties that were served

  • The date the documents were served

  • The method the documents were served (e.g. first class mail, hand delivery, facsimile)

Paul K, Esq. :

Some districts recommend a cover sheet however

Paul K, Esq. :

What district in California are you in?

Customer:

link for certificate of service?

Customer:

ok this is cool even though the BK has already been discharged?

Paul K, Esq. :

Is the case still open?

Paul K, Esq. :

No Final Decree?

Paul K, Esq. :

As long as case is still open for the Trustee to administer assets, you are fine

Paul K, Esq. :

once your case is finally and officially closed, you cannot amend

Customer:

order closing case was filed in 2010

Paul K, Esq. :

Who is looking to come after the motorcycle

Customer:

GE Capital Bank

Paul K, Esq. :

What basis do they have to come after it?

Paul K, Esq. :

Are they the original lienholder?

Customer:

I had a loan from them. yes.

Paul K, Esq. :

and they sued you and put a lien on the motorcycle?

Customer:

no

Customer:

they are just on the title and when i called to clear it they wanted to pass me to reposessions

Paul K, Esq. :

So you got a loan from them and secured it by your motorcycle?

Customer:

yah

Customer:

they provided the financing when i bought through yamaha originaly

Paul K, Esq. :

so this is the original lien on the motorcycle?

Customer:

yes

Paul K, Esq. :

Ok, so you stopped paying them at some point?

Paul K, Esq. :

Unfortunately Schedule C and the exemptions dont affect them.

Customer:

yah. the balance shows zero now on my credit

Paul K, Esq. :

But is it really zero or did they write it off or something?

Paul K, Esq. :

Unfortunately as long as they have title, tehy can make you pay.

Paul K, Esq. :

Best idea would be to settle maybe

Paul K, Esq. :

to contact them and say Hey I'll give you $500.00 for title

Paul K, Esq. :

As a secured creditor, though, they have priority on the title over any exemption you have

Paul K, Esq. :

so amending the BK petition wont do anything to them

Customer:

ok thanks!

Paul K, Esq. :

that only affects subsequent creditors, like a credit card company, from trying to put a lien on it

Paul K, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 141
Experience: 10 years Exp., Great customer service, Prompt responses.
Paul K, Esq. and other Bankruptcy Law Specialists are ready to help you
Expert:  Paul K, Esq. replied 1 year ago.
Let me know if you have more questions and I will see what I can do to help.

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