Bankruptcy ServicesWe are here to assist a debtor that is contemplating surrendering an automobile, boat, RV, ATV or motorcycle through the bankruptcy process. From arranging pick up, transfer and storage of the surrendered collateral to notifying your lien-holder of representation of counsel regarding the debt, CBS has the resources and knowledge to aid the debtor and his or her attorney.


We take every precaution to make sure the debtor's automobile, motorcycle, boat, ATV, or other collateral is secured in full compliance with state law.



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.



Frequently Asked Questions (FAQs)

Bankruptcy Trustee Services



Q: What is Collateral Bankruptcy Services, LLC (or “CBS”)?

A: 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.

Q:  Why do I, as a debtor or debtor’s attorney, care about vehicles surrendered incident to a bankruptcy case?

A:  To eliminate expense, liability and exposure.  

Q:  What value does Collateral Bankruptcy Services provide to me?

A:  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.

Q:  Why should I worry about surrendering the vehicle “properly?”  Can’t I just let the repo-man get it?

A:  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.  

Q:  What is the “expense” or “potential liability” that a debtor has by not surrendering his or her vehicle through Collateral Bankruptcy Services?

A:  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.

Q:  Does the debtor or debtor’s attorney have to pay Collateral Bankruptcy Services any fees for the services it provides?            

A:  No.  As indicated above, Collateral Bankruptcy Services is paid by the secured creditor, not by the debtor or debtor’s attorney.

Q:   How much does it cost the debtor or the debtor’s attorney to have a vehicle towed?

A:  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.

Q:  Do I, as the debtor or the debtor’s attorney, need to coordinate the surrender of the vehicle with Collateral Bankruptcy Services?

A:  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.  

Q:  What do I need to do to have Collateral Bankruptcy Services pick up and secure a surrendered vehicle?

A:  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.  

Q:  Where and/or to whom do I send the above information?

A:  It is best to please email the immediately listed above information to This email address is being protected from spambots. You need JavaScript enabled to view it. 

Q:  Where and when are surrendered vehicles picked up?

A:  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 

Q:  What about boats, RVs, motorcycles, ATVs – will Collateral Bankruptcy Services also arrange to pick up such other surrendered vehicles or collateral?

A:  Yes.  Please follow the same procedures above when requesting Collateral Bankruptcy Services arrange the transfer of such surrendered  vehicles or other collateral.

Q: Does CBS pick up collateral other than just cars?

A:  Yes. Collateral Bankruptcy Services will pick up just about any collateral for a loan. Boats, Recreational Vehicles (RVs), All Terrain Vehicles (ATVs), Mortorcycles and Jet Skis are all types of assets that CBS will pick up if you have decided to surrender them in your bankruptcy.

What Next?

I have followed my attorney's advice and surrendered the car that I could no longer afford. Now what -- how do I get around?  With late payments and a likely repossession on my records, how am I ever going to get another, more reasonably priced automobile? Traditional banks and credit unions may not lend to me.  If they would, they might require a lot of money down and charge me a high interest rate.  How am I ever going to get ahead?!? Good question.  Perhaps your attorney will counsel you to consider Automotive Fresh Start Center.

Auto Fresh Start Center makes it easy for individuals going through the bankruptcy process to get approved for a car that you will still love, only now at a monthly payment you can afford.  Auto Fresh Start Center will start by gathering data from you and the Court after your Bankruptcy is filed.  Once your application is complete, they will begin the approval process.  Once approved, you will select a clean, fun, affordable vehicle from hundreds of pre-owned and certified pre-owned vehicles from partner dealerships across the state of Florida.  Want to get started?!

Find your new, affordable car for your Fresh Start!