errors on liens during a bankruptcy

December 17th, 2008 by Questions

I recently filed for bankruptcy. This is something I do not understand. When I went to a trustee I thought that they were there to help ME. What has happened in my case is that a trailer i use for business had a lien on it. It also has my boyfriend as a co-signer. What has happened is that the company who gave me the loan to purchase the trailer reversed some didgets on the serial number plus I have a case that my birthcertificate and how i spell my name are differrent. I have always spelt my `the different way` Every document I have ever had has `the different way`. The trustee company that I have is not letting the people who gave me the loan have the trailer without going to court. If for some reason the courts don`t allow the loan company to have the trailer, what is means for my boyfriend is that he is left with a 21,000 loan to pay off. I have recently found a buyer for the trailer for 16,000 which would leave a 5,000 pay out instead of an extra large loan. I don`t understand my boyfriend should not be punished for my bad use of money. Because they filed the lien incorrectly does this mean that the papers with co-signers and me become nul and void. Do I have the right to go and talk to the person who owns the trustee company and who is making these decisions?

Posted from: Ontario


One Response to “errors on liens during a bankruptcy”

, A licensed trustee said:

The fault doesn’t rest with your trustee – if the trailer is registered in your name and the liens were not properly registered then your trustee is REQUIRED BY LAW to try and seize and sell the trailer. Your boyfriend should go and see a lawyer to determine if he has any rights in this matter – he may, but that’s not for a trustee to say…

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