By all means get a lawyer to handle this. Once you file, you will get a docket # all your creditors will be given this. They cannot BUG you for money after that ! I kept a Travel Trailer while going through Chapter 7 15 years or so ago. After my job layoff was over, I started building my credit rating back, now I can get just about anything on my signature alone, even real expensive stuff. (80K 5th wheel, cars, trucks, bikes). It's not a pleasant thing to go through, your credit is screwed for 10 yrs. They say seven, but it's actually 10.

 

the nice thing is if they do take your bike you will have a clean slate for aproximately 30 days and you can go and purchase anything you want including a new bike

 

It depends on if your filing chapter 13 or chapter 7.
Chapter 13 will stop any action such as foreclosure while you restructure your finances and you will have a payment schedule that will distribute the payment amongst your creditors. Which will generally be bargained down to a lower amount through the 13 process.

You can start with a 13 and then convert to a 7 if it is needed.

If you go to chapter 7 you are writing off the debts you have, however you can chose which debts to include anda foreclosure will proceed and be included in the debt write off.

So if you do not include the HD loan in your chapter 7 they will not receive a notification of your intent to include them. But as stated in earlier posts a phone call to reaffirm this would be advisable.