Motorcycle stolen while in bk chap13

[WHome23]

In chapter 13 bk and the creditor of my motorcycle didn't contest the bk and never came to get the motorcycle,, the motorcycle was recently stolen i am guessing that if i make an insurance claim then that wouldn't do me anygood anyway correct?

[SinkingFast]

Is the motorcycle payment part of your Ch 13 payment plan, or are you paying that payment outside the plan??

[WHome23]

as far as i know it is part of,, i included it in bk and the lein holder never contested it in court and also never came to get it.. there is still a lein from that company on title

[lrprn]

as far as i know it is part of,, i included it in bk and the lein holder never contested it in court and also never came to get it.. there is still a lein from that company on title

What SF is trying to find out is if you have been making payments on the motorcycle yourself to the lender while you've been in Ch 13 or did you decide to not make payments any longer and let it be repossessed if the lender came to get it? My question - since you are talking about repossession, I'm assuming you decided to not sign a reaffirmation agreement for the motorcycle with the lender, correct?

[WHome23]

yes, just stoped paying on the bike didnt sign anything to continue paying it

[miss puff]

More than likely the lender "stole" it.

[lrprn]

More than likely the lender "stole" it.

Exactly, MissPuff! WHome, what made you think that the motorcycle was stolen rather than repossessed?

[JeepMom]

Call the police, if it was repo'd they know.

[WHome23]

Ok, lets pretend for a minute that it wasn't a repo becuase i am almost 100% sure of that...

[Peevee]

if it was stolen and you had insurance they should cover it, you are still going to have to report it to the police. The insurance will require a police report

[SinkingFast]

as far as i know it is part of,, i included it in bk and the lein holder never contested it in court and also never came to get it.. there is still a lein from that company on title

You need to check on that information. See if the Lender was included in your Secured Debts to be paid by the Court.

Just because the Lender did not Object, does not mean the Lender did not expect to get paid. Your Lender could have been expecting you to continue making the payments outside the plan. Once you quit paying, the Lender could have arranged to have the motorcycle repo'd.

[WHome23]

if it is reported to the insurance they will still only pay money to the lein holder on the title correct? which in that case would just be giving money to the lein holder for really no reason,, you know what i mean?

[aa06a47]

Your motorcylce is secured debt. Secured debt does not require you to do a reafirmation agreement. Generally, to repossess, they would file a motion to lift the stay. They are entitled to get either the motor cycle or the money. If it were stolen, you best file a police report. You either have to give them the motor cylce back or pay up.

[keepmine]

I'd agree with AA.
Take care of your business and don't rock the boat. File a police report and a claim with the insurance company and if the lein holder is paid-so what?

[SinkingFast]

Your motorcylce is secured debt. Secured debt does not require you to do a reafirmation agreement. Generally, to repossess, they would file a motion to lift the stay. They are entitled to get either the motor cycle or the money. If it were stolen, you best file a police report. You either have to give them the motor cylce back or pay up.

Well DUH!! Talk about a brain fart there.

I completely forgot about the automatic stay with a repossession.