Finally pulled my PACER, some questions.

[twono]

5 claims were filed.....Discover, IRS, and NFCU x 3.  That's out of 35 or so creditors.  I suspect that number can go up in the next few months.  Discharge hopefully will be at end of Sept.

Also, a collection agency on behalf of SYNCHRONY is listed as a "FILER".  It looks like they asked the court for all the BK filings/claim info.

SYNCHRONY financed a motorcycle that i owe about $3000 on and is worth about $3000.

I"m leaning towards 'there is nothing for me to see here', and claims and an additional 'filer' is part of the process?

[FireMedic1]

What was your filing date, and when was your Meeting of Creditors? If no one showed up and your waiting for your DC. Nothing to worry about.

[twono]

MOC is less than 2 wks away...Filed 6/26.

Firemedic- Are you saying that since i haven't had my MOC yet, that i SHOULD be worrying about something?

I have a motorcycle financed with NFCU and a VISA and CLOC with them.  So i'm assuming they're making sure they get the motorcycle back?

Same with Synchrony, they have the lien on the bike and want it back as well. 

IRS will get their tax money through some asset forfeitures.

[FireMedic1]

It was just a couple of data points needed to answer your original post for the gang. If the bike is financed with NFCU. How does Sync have any interest in your bike? Or a lien against it? Having a bike in BK with NFCU doesnt come up much. If its only worth 3g's. I believe @Remedios may have a better answer than I could give.This could be interesting. Two companies that want the bike. Or just maybe you keep the bike. Pay it off to retain the title. This will be a learning situation. Never seen this scenario come up before on here. Please dont worry. BK is stressful enough until the MOC which is a cake walk anyway. Good Luck!

[Remedios]

The one way this can happen is if Synchrony sued OP in the past, got judgement, hence moving from unsecured creditor to secured creditor.

If you're unaware of such lawsuit, check your courthouse records, could have been a default judgment.

Good luck OP, and I hope you can put all this behind you soon

[twono]

Sorry for the confusion.....2 motorcycles, 2 separate liens

Synchrony didnt file a claim but is listed as a ‘filer’ on the bk?

I owe $3k on a bike that is valued at $3k that is financed with Synchrony.

I ALSO have a bike financed with nfcu that i owe $6k on and is valued at maybe $7k.

Nfcu is getting burned for about $42k.
Synchrony about $15k.

Hope that clears it up a little

[pizza1]

Yes, NFCU will take the bike back due to cross collateralization, and they will want to recap some of that.

If you also have another loan with Synch for another bike as stated, they are gonna want that back as well.

I don't see the trustee letting you keep two bikes, maybe one of them IF you don't have other means of transportation. If you have a car, then my guess is the trustee will make you give up both bikes as those are deemed luxury items in a BK.

[twono]

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@pizza1 wrote:
Yes, NFCU will take the bike back due to cross collateralization, and they will want to recap some of that.

If you also have another loan with Synch for another bike as stated, they are gonna want that back as well.

I don't see the trustee letting you keep two bikes, maybe one of them IF you don't have other means of transportation. If you have a car, then my guess is the trustee will make you give up both bikes as those are deemed luxury items in a BK.

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I'm giving up the motorcycles for sure.  That's a done deal and not the concerns i had with this thread.

Just wondering if seeing 'claims' show up on my Pacer is a normality.  And the CA on behalf of SYNCHRONY asking the court for all my BK documents was unusual (to me anyway) since they are the only one thus far.  But maybe SYNCHRONY did that because of the asset/motorcycle that they have the lien on?

No home, no vehicles involved in the BK.  Just the bikes.

[pizza1]

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@twono wrote:

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@pizza1 wrote:
Yes, NFCU will take the bike back due to cross collateralization, and they will want to recap some of that.

If you also have another loan with Synch for another bike as stated, they are gonna want that back as well.

I don't see the trustee letting you keep two bikes, maybe one of them IF you don't have other means of transportation. If you have a car, then my guess is the trustee will make you give up both bikes as those are deemed luxury items in a BK.

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I'm giving up the motorcycles for sure.  That's a done deal and not the concerns i had with this thread.

Just wondering if seeing 'claims' show up on my Pacer is a normality.  Can be. I had one show up years ago on pacer as a claim, nothing came of it though,  except my time from MOC to DC was extended due to the trustee requiring more documents related to the claim on my part which was basically the last 5 years of statements on a particular account.  And the CA on behalf of SYNCHRONY asking the court for all my BK documents was unusual (to me anyway) since they are the only one thus far.  But maybe SYNCHRONY did that because of the asset/motorcycle that they have the lien on? Yes. They have intitled interest in that  assest. There will be nothing that you will have to do on your part, its now in the hands of the trustee and what they want to do with the claims. They wont be kept out of the BK, you will still be IIB them.  Also, the trustee and judge usually just dont hand over "all" the BK documents to a lender because they ask.  Its really none of their business the rest of your BK, only their part in it which Im sure they will be told. They were probably trying to find out if you had any other assests, which you didnt. I think you're were correct in saying earlier "nothing to see here", but I can completely understand your anxiousness about the claims, and them asking for all your paperwork. That can be stressful, and hopefully its done soon enough and its behind you. 

No home, no vehicles involved in the BK.  Just the bikes. 

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[twono]

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@pizza1 wrote:

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@twono wrote:

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@pizza1 wrote:
Yes, NFCU will take the bike back due to cross collateralization, and they will want to recap some of that.

If you also have another loan with Synch for another bike as stated, they are gonna want that back as well.

I don't see the trustee letting you keep two bikes, maybe one of them IF you don't have other means of transportation. If you have a car, then my guess is the trustee will make you give up both bikes as those are deemed luxury items in a BK.

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I'm giving up the motorcycles for sure.  That's a done deal and not the concerns i had with this thread.

Just wondering if seeing 'claims' show up on my Pacer is a normality.  Can be. I had one show up years ago on pacer as a claim, nothing came of it though,  except my time from MOC to DC was extended due to the trustee requiring more documents related to the claim on my part which was basically the last 5 years of statements on a particular account.  And the CA on behalf of SYNCHRONY asking the court for all my BK documents was unusual (to me anyway) since they are the only one thus far.  But maybe SYNCHRONY did that because of the asset/motorcycle that they have the lien on? Yes. They have intitled interest in that  assest. There will be nothing that you will have to do on your part, its now in the hands of the trustee and what they want to do with the claims. They wont be kept out of the BK, you will still be IIB them.  Also, the trustee and judge usually just dont hand over "all" the BK documents to a lender because they ask.  Its really none of their business the rest of your BK, only their part in it which Im sure they will be told. They were probably trying to find out if you had any other assests, which you didnt. I think you're were correct in saying earlier "nothing to see here", but I can completely understand your anxiousness about the claims, and them asking for all your paperwork. That can be stressful, and hopefully its done soon enough and its behind you. 

No home, no vehicles involved in the BK.  Just the bikes. 

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Thanks Pizza....

Should i be following my PACER acct daily?  Any specific items to keep an eye for?  Or just make sure i don't see any changes to what's currently there?  Not sure what that would include though.