| Author: |
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Anonymous |
| Date: |
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November 14, 1998 |
| Question: |
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Could you please tell me when a bank is allowed
to contact someone after they have declared, in order to assertain
their intentions concerning a vehicle that was used as partial
security for a loan which is part of the bankruptcy? I was led to
beleive they were not allowed to contact the bankrupty until they had
filed their proof of claim and the trustee had responded to them with
their proof of receipt. Is this accurate?
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From: |
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Bruce Alger, Partner - Collins Barrow Limited |
| Date: |
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November 16, 1998 |
| Answer: |
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There is no law which would preclude a bank from calling you
regarding your vehicle. However, you will not be in a position to
deal with the bank until after the Trustee has released their interest
in the vehicle.
Bruce Alger, C.A., CIP
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