Many Debtors take the opportunity to maximize their fresh start in Chapter 7 bankruptcy and surrender a vehicle that they can no longer afford. While this may be of great benefit to the Debtor, these surrendered vehicles offer nothing but exposure to bankruptcy estates. This is especially true in states like Florida where vehicle owners are vicariously liable for the damages and injuries caused by a vehicle.
We have the staff and equipment to safely transport a debtor’s vehicle to a secure storage facility. Our vehicle recovery services are available across the state of Florida.
Rest assured that your or your client's vehicle will be stored in a secure, insured storage lot, away from thieves, vandals, and other things that may damage the vehicle. Plus, our Bankruptcy Collateral Storage procedure is designed to ensure proper chain of custody and protect all parties involved from the unlawful use of uninsured vehicles.
CBS offers a suite of services to Bankruptcy Trustees to help make their job easier, protect assets of the estate, and assure the estate is in compliance with bankruptcy law.
If you hire CBS to assist you with the surrender of your vehicle incident to your bankruptcy filing, CBS will notify your lien holder regarding:
- Your intentions under Section 521 of the Bankruptcy Code
- Attorney representation regarding the debt you owe
