How Silly Are Your Creditors?

[Run]

We have a motorcycle to surrender, but they will not take it. They absolutely refuse to allow us to surrender the motorcycle as listed on our statement of intentions. We can't sell it because they will not relinquish the title. We cannot license it for the same reason. We left it half a continent away years ago in a neighbors garage.

How silly? We asked them why they don't sell the debt to an agency that will repossess the motorcycle or someone living close to it. They are just so mule headed.

We called the trustees secretary to get an understanding of what's going on. She said that it will be discharged, as long as they don't object.

Again I wonder how they can object to discharge and refuse to repo it at the same time. I doubt that would wash with the trustee.

What knuckleheads!

So we told our friend that has stored it for years to just start using it on private property or abandon it.

Now I'm going to look into claiming and titling abandoned property.

What are your silly creditor stories that don't make sense?

[keepmine]

Your creditor just made a business decision. An old motorcycle of nominal value isn't worth the time, effort and money to repo.
We see this with a lot of older, high mileage cars involved in a bk. The lender just does nothing because that's the cheaper way to go.

[Run]

It is a 2004 with very little mileage (hasn't been driven in two years). They said they never repo stuff, just debt collection.

What gets me is they won't even sell us the paper for any reasonable price. If we push it to the curb and call the sheriff to pick up abandoned property, they get nothing (since they wouldn't bother to claim it and pay the towing and impound fees). Why not work with us? Why not sell it to somebody local?

What is silly is not them gambling on debt recovery but being so dense as to only see an all or nothing proposition. They will take the full amount or let it rot, but they would rather get nothing than something short of everything.

If I bought a herd of race horses and got a few plow horses mixed in, I wouldn't shot them and push them off a cliff, I'd sell them for what they are or plow with them. They don't want the motorcycle they bought, nor do they want the debtor they bought so they in a sense are just pushing us off a cliff (wasting their resources).

That doesn't make any sense at all.