Does Surrendering Collateral To A Creditor Also Include Delivering That Collateral To A Creditor?

Dennis Levine, who primarily represents creditors and chapter 7 trustees in all bankruptcy courts in Florida and is certified by the American Board of Certification in both Consumer Bankruptcy Law and Business bankruptcy Law, can be contacted at [email protected].

We often see Chapter 13 plans which provide that the debtor will surrender collateral to the secured creditor. Some plans even state that collateral will be surrendered within 30 days of filing (promises, promises...). Nevertheless, the debtor does not always surrender the collateral, but simply holds on to it . . .

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