jet-ski repo

[BobMango]

I had a 5th Wheel that GEMB had the loan on. I called after filing and told them I was surrendering (I was only 30 days late when I filed so they weren't chasing me.) They said, "fine, call us when you are discharged." I was a little surprised because I had fallen behind a year earlier and they were relentless. Once I was discharged I called and they had someone come pick it up within the week.

The repo guys were like, "Man, this thing is in great condition!" I guess they mostly repo junk, lol.

Anyway, I'd call GEMB and arrange for them to pick it up (if you don't make arrangements to buy it out as HHM suggested). Why not move on as quickly as possible? Having that thing hang around will just be a reminder that you have unfinished business.

[HHM]

Call them up and offer them some token amount to send you the title and see what they say.

But when it comes to security interests, there is no point in time that allows you to automatically claim the items are yours and go get a new title.

However, if you are game, you can sue them in state court and argue that they have abandoned their interest in the property by taking no action. Whether that will actually work is another question, but it is an idea. In essence, you would be turning the tables on the creditor and hoping they would not respond (but you need to make absolutely certain they were properly served), and then the court may enter default judgment on your behalf (assuming your state law provides some legal bases for abandonment of property).

[Flamingo]

If you do not have the title you will not be able to do anything as to the jet ski since it is obvious there is a lien on the title. The lien would have to be removed before you could do anything. It is in your best interest not to use the Jetski in case something happens to it and contact them as to the situation. Are you carrying insurance on it while in your possession? I hope so because if you are using it and hit someone or cause an injury while out on the lake or wherever or someone's kid decides to take a joyride when you are not around you could have one hell of a situation on your hands...investigate and ensure they come get it.

[Brazzy]

Repo'ing special items is a pain in the ass. There is no time line for it to be "yours". Let me ask this. Is it worth anything? Is it locked up? Have you called them and asked them to come get it? I ask because items like this are usually locked away and they cant just come in your garage and take it. They would have to take legal action to take it (replevin) and its a special item repo (more money).

[justbroke]

The can legally come and get it at any time before you make full payment. Of course, that's if they have a valid security interest as documented by a lien being recorded against the title.

Contact your DMV and check the liens on the title.

[goryr88]

i would certainly think they have a lien against it. i don't have the title, but i would think they would want it back! i have heard absolutley nothing. I havent paid on this since around august of 09! not sure i want to contact them since its summer now and ive used it a couple times. I'm just wondering if there comes a time where legally it becomes mine.

[justbroke]

No ideas! Does GE Money Bank (GEMB) have a lien against it? If not, it may be unsecured debt. That means you'd own it. There is no timeline. They may not even want to come and get it. If it's registered with your State, check to see if it has an actual recorded lien. If it does, then contact GEMB and see what the story is.

If you don't want it anymore... hmmm... I might come and get it.

[goryr88]

my bk was discharged on jan. 13. I have an 07 jetski that i surrendered and nobody has come to get it yet. what are my options? Is there a timeline or something of the sort before it is mine? I havent paid on this in like forever! It is financed through ge money bank. I have heard absolutely nothing. Any ideas?