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  1. #1
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Lender Wants Motorcycle, Debt Discharged in Bankruptcy

    If you defaulted on your loan, all else being equal, they can repossess. They cannot pursue the discharged loan balance or a deficiency.

    If your lawyer knows of a way for you to get title without paying for the motorcycle, ask your lawyer to explain his thinking. You chose not to identify your state, so we cannot direct you to the laws or statutes of limitation for your undisclosed state.

  2. #2
    Join Date
    Jan 2013
    Posts
    2

    Default Re: Lender Wants Motorcycle, Debt Discharged in Bankruptcy

    Sorry,that was my fault there...kinda new at this...my bankruptcy was in the state of Maryland,but it was a Pennsylvania lender...discharged August 2008,first contacted November 2012....

  3. #3
    Join Date
    Sep 2010
    Posts
    478

    Default Re: Lender Wants Motorcycle, Debt Discharged in Bankruptcy

    As Mr. K suggests, you cannot keep the motorcycle if you do not pay for it. You discharged the loan but not the lien. The fact that the lender waited so long, IMO, is not relevant. It has a lien against the bike and can exercise its right at any time. I am sure you attny did not tell you that you simply could keep the bike without paying for it. If he/she did, he/she should not be “practicing” law.

    If you want to keep the bike you need to work it out with the lender. If the lender is not willing to take less than $5k and you are not willing to pay the $5k settlement amount then you need to return the bike to its rightful owner, the lien holder.

    You have already had the benefit of using the bike for 4.5 years without making a payment. It is time to move on.

    Des.

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