Doan Law Firm 521 Surrender
The Doan Law Firm makes it EASY for chapter 7 bankruptcy debtors to PERFORM their intention of SURRENDERING encumbered property as per debtors’ duties under 11 U.S.C. § 521(a)(2).
A secured debt exists where a debtor has pledged real or personal property as collateral for the loan. Common examples of secured debts include home loans, motor vehicle loans, and recreational vehicle loans. Debts can also be secured by collateral where a purchase money security interest has been granted(jewelry, electronics, furniture, etc.), or an involuntary lien has attached to the collateral by statute or operation of law(judgment lien, hoa lien, mechanic lien, etc.).
11 U.S.C. § 521(a)(2) sets forth a debtor’s duties concerning property serving as collateral for secured debts. In short, the debtor must state whether his intention is to RETAIN, REDEEM, or SURRENDER the property. The debtor must then perform his intent.
Unfortunately, many creditors frustrate the SURRENDER option when they delay to retrieve their collateral, demand money to retrieve their collateral, or outright refuse to retrieve their collateral. DLF has had too many past clients left in the legal quagmire of possessing, maintaining, insuring, and garaging an unwanted vehicle without the financial resources to do so, thwarting their “fresh start.” Likewise, DLF has experienced many debtors with vehicles not running, having salvage value, expired tags, or other vehicle infraction issues that debtors cannot store on public streets. In many situations, tow companies, charitable organizations, and junk yards refused such vehicles, thus not allowing debtors to dispose of such vehicles, and deny their surrender options under 521(a)2.
The easiest way to surrender property is to call Doan Law at 1-800-380-DOAN. We give you peace of mind by orchestrating with one of our creditor liaisons the pickup, transport, delivery, certified notice, storage and disposition of vehicles, motorcycles, recreational vehicles, RVs, ATVs, trailers, boats, jetskis, etc. There is no need to jump thru all the hoops contacting the creditor to pick up the collateral, the wait for the creditor to pick up the property, middle of the night repossessions, the embarrassment of a tow truck at your house, the risk of parking tickets on the street, wasted time on the phone trying to find the right bankruptcy surrender department, etc. Pick up is immediate(usually same day) and easy. There is also no additional fee for these services! Just give us a call!
Creditors routinely thank DLF for engaging the services of DH. Not only do debtors benefit, but creditors benefit since there is no cost to the creditor as well as long as they retrieve their collateral within seven (7) days. Creditors are also very thankful for the expedited surrender, avoided unnecessary motions, fees and costs, eliminated confusion on collateral drop off locations, etc.