Collateral Bankruptcy Services is a consulting and service company that, in part, provides Chapter 7 Trustees, debtors, and debtor’s counsel with assistance in lawfully towing and storing collateral no longer desired to be kept by the debtor.
To eliminate expense, liability and exposure.
As the debtor or debtor attorney, many times you are faced with the challenging questions surrounding “what do I do with my unwanted automobile” now that I am going to surrender it in my bankruptcy?
– Dealership won’t take the vehicle back?
– Branch Bank won’t take the vehicle back?
– I don’t want the repo-man to take the vehicle while out and about!
– What if the vehicle is damaged or stolen?
Collateral Bankruptcy Services solves all of the above problems. In doing so, Collateral Bankruptcy Services will:
– Pick up and tow your surrendered vehicle
– Safely and securely store your surrendered vehicle
– Notify your secured creditor of the surrendered vehicle’s location
– Arrange return of your surrendered vehicle
Collateral Bankruptcy services will do all of the above pursuant to state and local governing law . . . and will do so at NO COST to you.
You could. But you have expense, potential liability and embarrassment associated with this hands-off approach. The prudent act of properly surrendering your vehicle and having it lawfully and safely secured by a towing and storage company like Collateral Bankruptcy Services is important and appropriate.
Your client has the continued expense of insurance on the automobile… and if he or she does not insure the automobile and still drives it, they run the risk of getting in an accident and facing further litigation and debt problems. Surrendering the vehicle through Collateral Bankruptcy Services eliminates these problems and protects their fresh start.
No. As indicated above, Collateral Bankruptcy Services is paid by the secured creditor, not by the debtor or debtor’s attorney.
Nothing. Again, there are no out-of-pocket costs to the debtor or the debtor’s attorney. Collateral Bankruptcy Services collects its fees and costs from the secured creditor at the time it picks up the surrendered vehicle.
Yes. Collateral Bankruptcy Services will do all the work to coordinate the surrender and pickup of the vehicle. In fact, Collateral Bankruptcy Services will, however, come to the vehicle to pick it up; you do not need to take the surrendered vehicle anywhere.
Provide us with:
(1) Debtor’s Name,
(2) Year, Make and Model of the surrendered vehicle; and
(3) Location (i.e., address) of the surrendered vehicle.
It is best to please email the immediately listed above information to vehicles@collateralbankruptcyservices.com
Typically at a time and place of the debtor’s choosing. It is Collateral Bankruptcy Services’ goal to amicably work with the debtor or debtor’s attorney in coordinating the surrender of vehicles.
Yes. Please follow the same procedures above when requesting Collateral Bankruptcy Services arrange the transfer of such surrendered vehicles or other collateral.
Yes. Collateral Bankruptcy Services will pick up just about any collateral for a loan. Boats, Recreational Vehicles (RVs), All Terrain Vehicles (ATVs), Motorcycles and Jet Skis are all types of assets that CBS will pick up if you have decided to surrender them in your bankruptcy.