Banks Refusal to Release Repossessed Vehicle Violates Stay According to Latest ABI Poll
Contact: John Hartgen
REFUSAL TO RELEASE REPOSSESSED VEHI
June 4, 2007, Alexandria,
Va. —A majority of respondents to
Twenty-seven percent of respondents, however, thought that it is not a willful stay violation for a bank to refuse releasing a repossessed vehicle after it had received a debtor’s chapter 13 filing. Eighteen percent “strongly disagreed” that a bank’s refusal to release a repossessed vehicle upon receiving notice of a debtor’s chapter 13 filing was a willful stay violation, while 9 percent “disagreed somewhat.” Seven percent of the respondents did not know or had no opinion on the issue.