When I filed Chapter 13 I had two cars both of which had loanes 1. Carmax $16,000 2. GMAC $32,000. My plan had Carmax scheduled as a Class 2 secured claim to be paid through the plan. The GMAC was scheduled as Class 3 secured claim satisfied by the surrender of collateral (car), with a non priority $8,000 deficiency. When I recieved the listings of Creditor Claims, Carmax was listed and GMAC but GMAC was listed twice. The first listing showed a claim for $32,000 that was to be paid directly (outside of plan) the second GMAC claim did not list any amount.
A short time later I recieved a letter from GMAC stating that they sold my car for $18,000 dollars and that I owed them the balance of $14,000, and that at the end of my bankruptcy they will start collecting on whatever amount the law allows them.
So what I am confused about is why is the GMAC claim for $32,000 listed in my plan as being paid directly when I surrendered the vehicle to GMAC. And why is there a second GMAC claim listing no dollar amount. And last but not least can they come after me for the $14,000 deficiency after a discharge.
Sorry this is so long but I have been wondering about thisfor a while. I talked to my attorney who said they do not know the law and I got lucky. You know getting lucky has not been one of those things that I could count on in my life so what do you guys think.
Thank You
Robin
A short time later I recieved a letter from GMAC stating that they sold my car for $18,000 dollars and that I owed them the balance of $14,000, and that at the end of my bankruptcy they will start collecting on whatever amount the law allows them.
So what I am confused about is why is the GMAC claim for $32,000 listed in my plan as being paid directly when I surrendered the vehicle to GMAC. And why is there a second GMAC claim listing no dollar amount. And last but not least can they come after me for the $14,000 deficiency after a discharge.
Sorry this is so long but I have been wondering about thisfor a while. I talked to my attorney who said they do not know the law and I got lucky. You know getting lucky has not been one of those things that I could count on in my life so what do you guys think.
Thank You
Robin