Keep an RV?

[jenbow]

We just in the infancy stages of filing chapter 13.. we have an RV and I am a bit sad to give it up... does anyone keep RV's? I was thinking we could rent it or something to make up our expenses.. we still owe about $13,000 and have paid about $12,000 so far on it.

Any experience with this?

[tigergem]

You can do a cram down on that loan if you have had it for more than 910 days.

[debtinohio]

I submitted a plan cramming down my 4 year old RV to $190/month. The trustee objected as it was in bad faith to pay that and not pay the unsecureds a higher %. I had my attorney take the fight to the judge and the judge ruled for the trustee and I had to give it up.

If you're in a 100% payback plan, no problem, otherwise it's unlikely.

There are plenty of used RV's in the $3000-5000 range, save up and replace it with something cheaper.

[Universal]

We surrendered the RV right after giving up Direct TV. If your attorney can work it where you can keep it, that would be great. I would prepare myself for otherwise though. I always swore I would never tent camp, but guess what, now own outright a tent and cots. lol.

[debtinohio]

The judge actually looked at my expenses too and said because I had $170 for cell phones and high vehicle expenses ($1200 in car payments) he just couldn't allow it in good faith. He said, given different expenses he may have ruled differently.

[TexasEx]

We also had to surrender our RV when we filed. As Debtinohio pointed out, when we looked at the overall picture it made no sense to keep it. We were dumping almost $300K of debt in oder to keep an RV that was worth maybe $14K. It wasn't worth it. Our lawywer advised that we could keep it as long as someone else took over the payments (family, etc). Although I felt a bit of sadness to give it up the same as you, it really made no sense to keep paying on it when a used RV can be had outright for a few thousand dollars. Good luck.

[kolCh13]

I submitted a plan cramming down my 4 year old RV to $190/month. The trustee objected as it was in bad faith to pay that and not pay the unsecureds a higher %. I had my attorney take the fight to the judge and the judge ruled for the trustee and I had to give it up.

If you're in a 100% payback plan, no problem, otherwise it's unlikely.

There are plenty of used RV's in the $3000-5000 range, save up and replace it with something cheaper.

Hello debtinohio...how much unsecured debt did you have during your ch13? I was wondering from your signature because I'm preparing for my ch13 and I have the similar situation with cars (1360/mo) and cell bill (120/mo). My atty said my actual payments would not be an issue. My DMI right now is showing 3k but atty said I need to have at least 4k to be in safe side. He also said if trustee argue about car payments being too high, I may need to give up one car...is it true in ch13? I thought you keep all your assets in ch 13.

Thanks for your input.

[debtinohio]

Hello debtinohio...how much unsecured debt did you have during your ch13? I was wondering from your signature because I'm preparing for my ch13 and I have the similar situation with cars (1360/mo) and cell bill (120/mo). My atty said my actual payments would not be an issue. My DMI right now is showing 3k but atty said I need to have at least 4k to be in safe side. He also said if trustee argue about car payments being too high, I may need to give up one car...is it true in ch13? I thought you keep all your assets in ch 13.

Thanks for your input.

Sent you a PM.

[jenbow]

Thank you all so much for your input.. I think I need to go mourn my loss. I am going to miss this so much but its my reality right now

[lrprn]

We surrendered our paid-off camping trailer and a john boat with outboard motor when we filed (combined value at that time was $3500) because they were considered a luxury and we couldn't protect them with our state exemptions.

However, our trustee (at least so far) has left both alone. Our lawyer thinks that it just hasn't been worth the hassle to seize either one and sell it, especially now when the value is much lower and the economy is so bad. If the trailer and boat are still in our possession once our plan is successfully discharged, then both are ours to keep. We'll see.....

[debtinohio]

Thank you all so much for your input.. I think I need to go mourn my loss. I am going to miss this so much but its my reality right now

It was rough on my kids and heart-wrenching to clean all of our belongings out of it. Since the bank filed their motion to lift the stay right away we figure it could disappear any time now since the stay was granted a couple of days ago.

We miss it, but we spent an average of $120/3 nights camping fees and at least $100 on food/gas/etc. each weekend. We camped 2-3 weekends a month, once we found we were spending 5-600 a month plus the $250 carry cost per month of the camper we got over it pretty quick.

I thought about tent camping or camping on free public land with a cheap, used camper.

I'm also stuck driving a 13.8 MPG 2009 Truck that I bought to pull it.

[jenbow]

has anyone considered trying to rent their RV to bring in income to pay for itself?? or is this just a big risk??

[mkstlowe]

I have an RV. My lawyer said we could keep but we might have to pay that extra into our payment. So if we want to keep our $200 RV payment, my monthly payment to them could go up that much. Also talked to my attorney about how trustee's are etc from what I read. He said each stated/county is different. We can't compare how one would react over the other. My attorney is not concerned. Now all my secured debt is current. I'm really only filing on unsecured CC so all payments are going to unsecured. Just not sure on % yet.

[tigergem]

has anyone considered trying to rent their RV to bring in income to pay for itself?? or is this just a big risk??

I have read about people that do that with theirs... but I don't know if it is a good idea or not. I think I saw a web site once for a place that helps people do that, probably on a commission basis. Seems to me that you parked the RV with them and they took care of all the details of renting it out, insuring it and getting it back, cleaning it up and so forth. Sorry I don't recall where or what it was, but maybe you could google it. I think if you were going to do it yourself, it would be a huge hassle. The first question to ask would be to your insurance company about the cost of a policy to cover it under those circumstances. I think that in itself might answer your question.

[BNKRPTinNC]

It's interesting to see how different each district is over this issue. We were able to keep ours. Owed 12k, crammed down to 8k and wasn't even an issue. It was about 5 yrs old at time of filing so maybe that had something to do with it. We are also paying around 14% to unsecured in the plan. I was surprised too that it didn't even come up about having to let it go as that was our intention. Go figure.