S.O.L. after chapt. 7

My husband and I filed chapter 7 in March of 1995. We have a motorcycle included in our bankruptcy. The debt for the bike was never reaffirmed and the creditor never picked up the bike. there was contact made on our part to have them pick it up, but they never came. 3 years later we called again, and they couldn't find any info on us. We honestly gave them our info, and still 5 years later, we still have the bike. We filed in Missouri, and have just moved to Ca. Do we keep the bike or what? The bike has not been registered since 95. Please any info will help. Last payment made was August of 94. Thank you, slb

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by slbaker:
My husband and I filed chapter 7 in March of 1995. We have a motorcycle included in our bankruptcy. The debt for the bike was never reaffirmed and the creditor never picked up the bike. there was contact made on our part to have them pick it up, but they never came. 3 years later we called again, and they couldn't find any info on us. We honestly gave them our info, and still 5 years later, we still have the bike. We filed in Missouri, and have just moved to Ca. Do we keep the bike or what? The bike has not been registered since 95. Please any info will help. Last payment made was August of 94. Thank you, slb<HR></BLOCKQUOTE>

My response:

Insofar as a Statute of Limitations is concerned, you couldn't have purchased the bike in a worse State - - Missouri has a WHOPPING 10 year Statute of Limitations on written contracts. Since your last payment was in 1994, the S.O.L. doesn't expire until the month and day of 2004, from the date when you made your last payment. As a comparison, California's S.O.L. is only 4 years; so, Missouri's is incredibly long !

They could come after you, and the bike, by filing there, and serving you with a Summons and Complaint here in California - - or, if they don't know where you are, they could "publish" the Summons in a Missouri newspaper. When you fail to appear in the action filed in Missouri, they will take your default. With a judgment, they will file papers for recognition of a "Sister State" judgment, i.e., to have California recognize the judgment as if the judgment was rendered here in California. Then, they will seize the bike, sell it (probably here in California) and seek a writ of attachment on your bank accounts and wages to cover their costs (attorney's fees, court costs, etc., along with the difference still owed on the bike versus what they were able to sell it for here in California. Or, they may not even attempt to obtain possession of the bike, and simply attach your accounts and wages for the whole enchilada. And no, you can't file BK again, anytime soon. This whole thing could amount to many more thousands of dollars than what you currently "owe" on the bike.

On the other hand, they may do nothing since they never had the debt reaffirmed by you, and according to you, can't locate your papers. Perhaps the reason for that is they sold your debt to a collection agency a long time ago. Who knows? They could have merely filed the papers away in some "archive" somewhere, collecting dust.

In any case, you'll never have clear title to the bike; i.e., you won't be able to sell it legally. And, once you register the bike, because their name appears on the Missouri registration, they'll receive notice of where the bike is currently, and perhaps, use that information to get to you here in California by way of judgment.

Unless the bike contract debt was wiped out in the BK, for all intents and purposes, the bike is considered stolen because you haven't paid for it, and you took their "security" for the debt - - that is, the bike was, and still is, their security for the debt subject to repossession.

Good luck.

IAAL



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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

Thank you for the info. However we purchased the bike here in California when my husband was stationed out here,(military). So what state would we fall under as far as the statutes of limitations? Were not sure what to do with the bike now. Thank you for your time!slb <BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
My response:

Insofar as a Statute of Limitations is concerned, you couldn't have purchased the bike in a worse State - - Missouri has a WHOPPING 10 year Statute of Limitations on written contracts. Since your last payment was in 1994, the S.O.L. doesn't expire until the month and day of 2004, from the date when you made your last payment. As a comparison, California's S.O.L. is only 4 years; so, Missouri's is incredibly long !

They could come after you, and the bike, by filing there, and serving you with a Summons and Complaint here in California - - or, if they don't know where you are, they could "publish" the Summons in a Missouri newspaper. When you fail to appear in the action filed in Missouri, they will take your default. With a judgment, they will file papers for recognition of a "Sister State" judgment, i.e., to have California recognize the judgment as if the judgment was rendered here in California. Then, they will seize the bike, sell it (probably here in California) and seek a writ of attachment on your bank accounts and wages to cover their costs (attorney's fees, court costs, etc., along with the difference still owed on the bike versus what they were able to sell it for here in California. Or, they may not even attempt to obtain possession of the bike, and simply attach your accounts and wages for the whole enchilada. And no, you can't file BK again, anytime soon. This whole thing could amount to many more thousands of dollars than what you currently "owe" on the bike.

On the other hand, they may do nothing since they never had the debt reaffirmed by you, and according to you, can't locate your papers. Perhaps the reason for that is they sold your debt to a collection agency a long time ago. Who knows? They could have merely filed the papers away in some "archive" somewhere, collecting dust.

In any case, you'll never have clear title to the bike; i.e., you won't be able to sell it legally. And, once you register the bike, because their name appears on the Missouri registration, they'll receive notice of where the bike is currently, and perhaps, use that information to get to you here in California by way of judgment.

Unless the bike contract debt was wiped out in the BK, for all intents and purposes, the bike is considered stolen because you haven't paid for it, and you took their "security" for the debt - - that is, the bike was, and still is, their security for the debt subject to repossession.

Good luck.

IAAL

<HR></BLOCKQUOTE>

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by slbaker:
Thank you for the info. However we purchased the bike here in California when my husband was stationed out here,(military). So what state would we fall under as far as the statutes of limitations? Were not sure what to do with the bike now. Thank you for your time!slb <HR></BLOCKQUOTE>

My response:

You said, "Thank you for [my] time." What a waste !! You made it sound like the bike was purchased in Missouri. Didn't you think that was important information to tell me about? You mentioned everything else and every other State about where you filed BK and where you live. Why not where you purchased the bike? Perhaps someone else from this site will assist you, and then after wasting their time, only to find out later that you've left out still other, pertinent, information. Once fooled, shame on you. Twice fooled, shame on me.

IAAL

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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."



[This message has been edited by I AM ALWAYS LIABLE (edited June 08, 2000).]