Listing repossessed car

[skyblue]

My car has been repossessed and I don't intent to recover it.

Do I have to list this car on Schedule B and/or Schedule C?

Thanks

[dpickrn]

It should be listed in schedule B and D and in your statement of affairs. Or, thats how my attorney listed it in my paperwork.

[skyblue]

okay thank you

[aachudneymiles]

i am confused by this answer .. if it was repo why put it anything but unsecured non priority? and why do anything with statement of intend? The car is gone so its not secured anymore if they have the property back? Not trying to prove anyone wrong but I have same situation- car just repo.. and why would one put it in personal property its not yours anymore right- wrong- maybe?

[nc73]

i am confused by this answer .. if it was repo why put it anything but unsecured non priority? and why do anything with statement of intend? The car is gone so its not secured anymore if they have the property back? Not trying to prove anyone wrong but I have same situation- car just repo.. and why would one put it in personal property its not yours anymore right- wrong- maybe?

He's still responsible for the debt on it. So if they sold it for less at auction he'd have to pay the difference..

[aachudneymiles]

He's still responsible for the debt on it. So if they sold it for less at auction he'd have to pay the difference..

right so.. you would put the remainer balance on schedules F right?

[nc73]

right so.. you would put the remainer balance on schedules F right?

No idea.I've yet to file

[skyblue]

right so.. you would put the remainer balance on schedules F right?

I don't think so.
On schedule D, there is a section call 'unsecured portion, if any'
If value of the property is less than remaining balance of the loan then that's the section you put the difference.

Schedule F is just a unsecured credit such as credit card..

That's how I understood.

[dpickrn]

There's also the minute chance that if they sell the vehicle that you could fetch more than is owed and then you still have a interest of value in the vehicle. The statement of affairs says to list repossessions. I'm not sure of my answers though. I was just stating how my attorney listed it in my paperwork. My case was discharged and closed, so I assume everything was done right.

[aachudneymiles]

thnx pdick .. i agree- looked at my brother old bk case and his denver attorney listed the repo car in one place "statement of affairs"..