First Houses, Now Cars: "Please Take the Damn Thing"

We saw it with homes, especially condos, now we see refusal of lenders to take possession of cars and boats following bankruptcy.

Please consider My lender refuses to repossess my car

Dear Bankruptcy Adviser,
I was forced to file Chapter 7 bankruptcy. I agreed to surrender my vehicle. After my Chapter 7 was discharged, I naturally expected my car to be picked up by the lender. It has now been three months. Is there a required amount of time in which they have to pick it up? I have made many calls about this to my lender. Not one call has been returned. Isn't there something in the law that states they have a time limit to pick up the car, or else release the title to me?-- Jim

The "Bankruptcy Adviser" responded that he is seeing this action more frequently because resale value is "so low that the lender doesn't want to waste resources to repossess, refurbish and resell."