BMW has no interest in recovering vehicle

[andy158]

Similar situtuation here. Had a motorcycle and pleasure boat surrender when I filed in July 2009. The stay for the motorcycle was lifted in October and they just came in January for the vehicle. The boat on the other hand I have not heard a word. The insurance has lapsed and it has been sitting by the house since I can no longer afford storage for it. The boat was financed by a local bank and the motorcycle by HSBC. I don't know if there is a statute of limitations for the boat or if they are just waiting for warm weather to recover and sell it. I still owe $7,000 on it.

[fireworks]

If they don't want it, I'll come get it...

[BKInLA]

Very interesting...

[catleg]

Maybe BMW's accounting is kind of shady and they aren't prepared to take the loss. (What loss? I don't know. My imagination only goes so far.)

[HHM]

What you could do, although it is a long shot and probably not worth the time and effort...is file a complaint for abandonment (you will need to check your state law on what constitutes abandonment). Basically, you would be asking for a court order saying that BMW has relinquished all interest in the property due to their failure to exercise their rights in a reasonable and timely manner. Whether you would do this in BK court or state court, I do not know. Then you could take that order to your DMV and have new title issued in your name free and clear of any liens.

[floridian]

i have a bmw motorcycle that i have faxed the voluntary repo order to bmw financial... they seem to have no interest in coming for it..

[forgotten]

I just find this very interesting and wondered if anyone else has run in to this.

I have a BMW lease that I surrendered in bankruptcy. I have not made the payment in 12 months now and they made no effort to get a relief from the automatic stay to repossess.

I am now confirmed, so the automatic stay against them is terminated.

I call to see if they want me to drop off the vehicle as to not just have someone show up at random trying to pick it up.

They told me just return it at the end of the lease 11/15/2010, he could get me instructions to return it early if I wanted but they were in no hurry to get it back.

Do they just have so many repos they don't know what to do with them all or what? I just thought it was crazy they are really letting me keep it for a total of 22 months without paying!