The Gorski Firm, APC's Bankruptcy Blog

PAY AND RETAIN DRIVES AWAY: 9th Cir. Permits Creditor's Repossession of Vehicle - December 10, 2009

SUMMARY: In Dumont v. Ford Motor Credit Company, the Ninth Circuit Court of Appeals held that BAPCPA supersedes the court's pre-BAPCA opinion that permitted debtors to retain collateral without reaffirming or redeeming the debt so long as payments were continued and timely ("pay and retain"). The Court's Dumont holding finds that the Bankruptcy Code does not protect the collateral if the debtor fails to actually redeem, reaffirm, or assume the credit obligation. Filing a statement of intention without more is not enough to keep the property. Read the full article here . . .

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December 2009

With offices in Bakersfield and Long Beach California, The Gorski Firm, A.P.C. represents clients throughout California and nationwide with a concentration in the following counties: Kern, Los Angeles, Orange, Riverside, San Diego, San Bernardino, Ventura, Santa Barbara, and Imperial.

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