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Maverick, Attorney
Category: Bankruptcy Law
Satisfied Customers: 6391
Experience:  20 years of professional experience
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My X and I filled bankruptcy separately in 2009 and 2010 in NM. The ve

Customer Question

My X and I filled bankruptcy separately in 2009 and 2010 in NM. The vehicles in question had been put in her name when refinanced at one time but in my possession all the time. This was done 2 years before the divorce. When she filled she did not claim the vehicles in question and let them know I would.
The debtor told her to have me let them know what I would keep. I called them and told them what I wanted to do. They said they could not let me affirm or talk to me until I filled. I filled the bankruptcy and listed the vehicles and notified the debtor.
I filled chapter 13 but the debtor never responded to the court, my attorney or me. The bankruptcy was finalized but the vehicles never discussed or notified about. My attorney called the debtor and they said they had written off the debt. My attorney said I could drive them until they fell apart but never sell them.
My question is this: Before the first bankruptcy hearing, they were sought for repo. Can an old agent for the company that had been hired in the beginning still repo the vehicles if they have been written off?
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  Maverick replied 2 years ago.
Welcome to Just Answer! My name is Maverick. I very much enjoy what I do and I hope that you will benefit from this information.
Can an old agent for the company that had been hired in the beginning still repo the vehicles if they have been written off?
1. NM Section 55-9-503 in pertinent part provides that "nless otherwise agreed a secured party has on default the right to take possession of the collateral. In taking possession a secured party may proceed without judicial process if this can be done without breach of the peace.
2. The NM statute of limitations on written contracts is 6 years. N.M. Stat. § 37-1-3(A).
Based on the above, it appears that the lender or the debt collection agency that the lender may have assigned the debt to cannot SUE on the car loan after 6 years from the time of last default. However, there is no limit on their right to repossess after the default. The term that a "debt has been written off" only means that internally, on the company's accounting records, it had been identified as a "bad debt". It really has no meaning as far as the company's legal rights to continue to collect on the debt or right to repo; both of which may be assigned to a third party debt collector.
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Customer: replied 2 years ago.
This is not satisfactory. In my information I stated i filed bankruptcy and indicated I would keep the vehicles under bankruptcy. They never showed in court and when questioned did not respond except to say it had been written off during the bankruptcy.I would have paid and kept them but without responce made that difficult. I need to know if they can show up or someone else can get the vehicles even after I filed to reafirm and they did not show to the meetings.
Customer: replied 2 years ago.
If this is all that can be told to me, I am not any better than I was when starting and request a refund. thank you
Expert:  Maverick replied 2 years ago.
I will ask JA to give you a refund. Thank you for giving us a try.