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Ch 13 and possible boat repo

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    Ch 13 and possible boat repo

    Hi All,

    We have retained an attorney, and are preparing to file for Ch 13. We have a boat that we are planning on surrendering to Bank of America as part of the bankruptcy. We have missed two payments already, and after Oct. 11th it will be three payments.

    I don't want to make a payment on it since we are going to lose it anyway, but I don't want it to get repossessed before the bankruptcy. We won't actually get to file until mid-November, and the concern that I have is that Bank of America will repossess the boat before then. Our attorney advised us to stop making payments inform our creditors that we are planning on filing for Ch 13 and have retained an attorney, and to provide his name and phone number. Will telling B of A that we are filing for BK speed up the repossession or stall it?

    Any advice would be appreciated...thanks!

    P.S. We live in Washington State, and the boat is in a slip at the marina...if those details matter.

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