The relief of stay was granted...now what?

[jenopher]

We totally expected it would be granted. When will they come get the trailer? Will they call us or mail us something? We wish they would just come and get it already

[BKParalegal]

If you want you can call them and let them know where it is, but otherwise they will send out a crew in the middle of the night to come get it.

Good Luck

[jenopher]

Lol, good luck with that. It's stored at DH's work on the military base. He just keeps it at the warehouse cause it's free. I don't even know if it has an official address there. We were hoping to just arrange a parking lot handover situation. I'll try to figure out who to call next week. I'd rather avoid having a big tow truck with "YOU DON"T PAY YOU DON"T PLAY REPO CO." painted on the side coming over.

[FreshLikeADaisy]

Jenopher, if it's on base they have to go through security, as well as get directions from you on where to find it (if it's in a warehouse I'm guessing they can't see it from the street), so... they're going to have to communicate with you before taking it anyway.

Good luck!!!

[Priceless ProSe]

I have a question related to this, and I swear im not tryin to get anyone in trouble, just curious.

Are "trailers" licensed by the state?

Here is the reason I ask, when you have a secured property in BK, like a house or a car it only makes sense to give it over if you are surrendering because what are you going to do with a car that cannot be liscensed in your name, and similarly the bank knows right where your house is and you cant sell it. And besides that its the honest thing to do .

But, when you have secured property like furniture it is often sold right? For example I had a recent thread where I explained that I had sold furniture before I knew I was going to be n BK and I didnt know it was secured until now. Everyone pretty much said nothing is going to happen, is this because of the value of the furniture? If someone did have a big ticket item, such as a trailer (assuming they dont need to be liscensed) or a 10k bigscreen tv, that was sold with no "paper trail" what would be the consequences? Could I just willy nilly tell them I sold it a year ago (with a side of cease and desist), take me to court if you want!

Once again I am not trying to give anyone ideas, it just seems like a big loophole to me. I have nothing of value myself, except for a car that the bank will get bak shortly of course.

[FreshLikeADaisy]

Priceless, you're right in that it's a huge loophole that anyone can walk right through (and some do try). But the problem is, as you suspected, the dollar amount: the higher the dollar amount of an item, the more definitive a paper trail on it is going to be. Was that $10k home theater system itemized and insured on the homeowner's policy? Was that lovely ring purchased with anything other than cash? Was that trailer purchased at the same time as the boat it carried, and from the same dealer?

And never forget that much bk fraud is uncovered via anonymous tip to the U.S. Trustee Program. Remember that time you pissed off Aunt Mary? Well, so does she, and she knows exactly what you did with that jet-ski you think you're hiding. Seriously, people report that stuff.

While trustees tend to be more thorough, it is also possible for a creditor of a secured loan, who believes you to have hidden the asset, to go the fraud route and file a creditor objection. So if someone files in this dishonest way, thinking there's no possible way for anyone to figure it out, they're in danger from both ends: the bk court and trustee on one hand, and the jilted creditor on the other. You'd be amazed at how easily found some assets are.

[jenopher]

It is licensed and the creditor holds the lien. It's a travel trailer, kinda like a motorhome. Same as car would be.

I know they have to contact us to get it. I'm just wondering how quickly they will do that now that they have been granted the relief of stay.

[JRScott]

Shouldn't take to long for them to contact you on it. If you have personal valuable in it I'd clean it out now.

Once you've removed all of your personal effects, I'd just call them up and arrange for pickup, it would probably be easier for you to move it off base for them to get it.