Code Section 722

[haitran]

I filed for a chapter 7 in Louisiana

Can somebody fill me in on the section 722....from what i've read in this forum it allowed you to redeem your vehicle in a chapter 7....i thought the only time you can redeem is in a chapter 13......i'd filed for a chapter 7 and went to my meeting in february and just waiting for the discharge....i have a van retail value of 18000 and owe 22000 on it, therefore i chose not to reaffirm....i've just recieve a letter from the lien company stating they put in a motion of relief of stay and i have 15 days to dispute it....it states that i'm behind 2 months...i stop paying since i filed in december and can't understand why i'm 2 months behind...is it for the month of march and april?????i didn't know about the section 722 and my lawyer didn't mention it to me...i know i must come up with the money and might be able to from a family member....is it too late for me to file the paperwork to REDEEM the vehicle ....any quick advice is apreciated.....thanks a million

 

[planner]

I assume you don't have the cash to redeem so go to 722redemption.com and see if they will finance.

 

[AttorneyOney]

If you were still inside the 45 day period allowed by 521(2)(B) for "performing your intention" to surrender the property [which must be what your petition said], Rule 1009(b) would give you the right to amend your statement so as to redeem the vehicle instead. Section 521(2)(B) allows the court to enlarge the 45-day period "for cause". You could argue that your lack of knowledge amounts to "cause", especially where the lender is likely to be thrilled to get something close to blue-book value without the expense of an auction.

Expect the lender to ask for an additional $150 (the filing fee for its motion for relief from the stay) plus something for attorney fees. You can hope that your attorney will fall on his sword and pay some of this himself as penance for not telling you about all your options.

 

[haitran]

my 341 meeting was on february 19th and it's way past the 45 days...not knowing that i could do a 722 redemption, i chose not to reaffirm the vehicle when asked...so now i'm in a bind....do you think if i will talk to the lien company they will do something since they don't want to lose out on the vehicle....any suggestion on what i should do before i lose the vehicle......

 

[eloqid]

I went by the mistake of if they want it they will come it as stated by the attoneys office, I was later sued (after discharge) for the car back, and all money (it was a lease), court, intrest, and attorney fees. The case is still pending.

 

[AttorneyOney]

If I were a pro-se nonlawyer, I would immediately file an opposition to the motion for relief from stay. In it, I'd ask the court to grant leave to amend the statement of intention on the grounds that I didn't know I had an option to redeem my vehicle.

In your situation, I think you should tell your attorney what you want to do and ask him to make it so.

 

[haitran]

Louisiana---

I recieve my discharge paper today....can i still try to redeem the vehicle or am i too late since it's finalized