The skeptical answer is that this is a way for Toyota's bankruptcy counsel to generate fees. The real reason they file a proof of claim is so that the court has jurisdiction over them. It's a bit esoteric and has to do with them being able to repossess your car after your case is closed if you did not enter into a reaffirmation agreement.
However, to my knowledge, Toyota doesn't repossess under those facts, so the only reason I can think of for them filing a claim is for the attorney to generate fees.
Mark J. Markus, Attorney at Law
I have to agree. Unless you reaffirmed the debt, you are not responsible. If you intend to stop paying and give up the car, then there is no concern to you. Toyota may have to pay its counsel more for doing something completely unnecessary.
[This communication is intended as general information and not specific legal advice, and this communication does not create an attorney-client relationship.]Ask a similar question