sell of motorcylce after bankrup

What is the name of your state? Ar.

Just have a question, our Bk. was dissmissed over 2 yrs. ago. We did not reaffirm on a motorcycle, and told the Judge we would give it up. They called us once after the Bk. to ask about it, and was told again of the Bk. they asked if they could come and get it, we said yes. To date we have not heard from them again. It is just sitting in our garage, can we sell this motocycle?

Thanks

sounds like they don't want it either after 2 years, sell it.

Well that's what I have decided too, they don't want it. We have the title, would it be a clear title to sell to someone else?

You could check with the title company to see if your m/c has a clear title. *Or* you could order all three of your credit reports (less if your m/c debt only reported on one or two of them) and see if there's still a lien on the m/c or any other separate piece of your personal property that you may have pledged as collateral.

[JETX]

WRONG!!
You cannot just assume that the lender has 'forgotten' about THEIR property and sell it. Nor can you keep the funds from the sale.

You need to send the lender a letter (certified RRR) and advise them that they need to contact you within 10 days of receipt of your letter to make arrangements to recover THEIR property. Include that if they don't contact you, then storage fees will accumulate at the rate of $25.00 per day for the following 30 days. After 30 days, the property will be considered abandoned and disposed of at your discretion without recourse.

On top of all that.... if you sell the property (motorcycle) any funds over the amount of storage charges incurred, needs to be sent to the owner of the property.... yep, the lender.

Thanks for the replies, still a little confused on what to do, guess it will set in the garage for a while longer.

Thanks again
abbey827

My bad.

I took the OP's statement that his bk was "dismissed" rather than "discharged". Certainly, I agree with you. A lot of people seem to confuse "dismissed" when the word that they meant to use is "discharged".

[JETX]

Actually, it doesn't matter if it was dismissed or discharged. The fact would remain that the lender has the negotiable title and retains the lien...... and ownership on the writers breach of the repayment agreement.
The writer simply cannot sell what is not his/hers.

If you have the title for the motorcycle then it is obvious that there are no liens or encumbrances on said property. If that MC was secured for a loan, the loan company would have the title. There should be a line on the title which shows any such liens and if they were satisfied. If that title is free and clear, you have every right in the world to sell the MC. Sell it and enjoy the money.

[JETX]

"If you have the title for the motorcycle then it is obvious that there are no liens or encumbrances on said property."
*** Wrong. States provide non-negotiable titles so that the driver (owner) can register the vehicle. That does not mean that this is THE title to the vehicle which is retained by the lender.

"If that title is free and clear, you have every right in the world to sell the MC. Sell it and enjoy the money."
*** If you would take the time to READ the post, you would see that there was a loan on the motorcylcle. Any other explanation would simply not fit the writers statements.
And since there IS/WAS an outstanding loan on the title, there is a lienholder. Simply, your entire post is not suppported by the facts presented by the writer.

I stand corrected by our resident lawman. If it is a non negotiable title, use it to start fires, but if it is THE TITLE, let your conscious be your guide. Good luck.