Legal Question in Bankruptcy in Virginia
My wife and I are currently in a Chapter 13. We attended our 341 meeting about 2 weeks ago. We elected to keep our car and mortgage out of the bankruptcy and have continued to make payments. Today we received a notice in the mail from our trustee that BB&T (vehicle lien holder)filed a "proof of claim" against us and it was approved by the Trustee. (it says "will accept as arrears") Could someone please explain what this means? We really want to keep our vehicle and we have no idea what this means.
Asked on 6/06/10, 2:48 pm
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
Most likely, that the lienholder on the vehicle, i.e., BB&T has filed a claim with
the bankruptcy trustee as to what is currently owed on the vehicle which the
trustee has accepted as valid.
Answered on 6/09/10, 11:07 am
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