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Subject:
Chapter 7 bankruptcy in the State of Georgia.
Category: Business and Money > Finance Asked by: herb2323-ga List Price: $25.00 |
Posted:
25 Oct 2006 06:36 PDT
Expires: 24 Nov 2006 05:36 PST Question ID: 776721 |
Chapter 7 bankruptcy in the State of Georgia. A bank is a secured creditor and listed as such in the Bankruptcy Schedules. A car is the property on which the bank has its lien. Georgia is a car title state. The bank has possession of title on which it's lien is recorded. The discharge was granted by the Bankruptcy Court. The bank refuses to release the title to the car unless it receives an "acceptable payment even though it has forgiven the debt." The bank did not attend the creditors' meeting and did not repossess the car. What is quoted here is what the bank said. Can a secured creditor demand and receive an "acceptable payment" under these circumstances in order to release the title without showing the recorded lien on it? |
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