Expert: Mark J. Markus- California Bankruptcy Attorney - 11/6/2004

Question
Are repossed cars still listed on Schedule D - Creditors holding secured claims form, after the car has been repossed or is it listed on another form. I was curious, because the attorney filed it on the Schedule D form. It seemed a little odd to me.

Answer
yea, that is a little odd, although possibly not incorrect.  It depends on when the vehicle was repossessed and what the laws are in whatever State this is in.  It is possible under certain circumstances for the debtor to recover the vehicle, particularly in a Ch. 13 case, if he provides for curing the arrearage in the Plan and as long as the creditor has not yet sold the vehicle (transfered title) to a bona fide purchaser.  In that case, it would be appropriate.  Of course, in that case, the vehicle itself would also need to be listed on Schedule "B" as well as the debt on Schedule "D".