To keep or not to keep?

[6thsense]

After discharge, anyone know how long I have to surrender my vehicle? I'm talking even after I've been making on time payments and did not reaffirm. If a year goes buy, can I still surrender it without reprocussion from the finance company or any negative marks on my credit? It was listed in my BK.

[lrprn]

After discharge, anyone know how long I have to surrender my vehicle? I'm talking even after I've been making on time payments and did not reaffirm. If a year goes buy, can I still surrender it without reprocussion from the finance company or any negative marks on my credit? It was listed in my BK.

Yes, since you did not reaffirm your car loan, you can surrender the car any time after discharge and owe your car lender nothing.

If you do decide to stop making payments and you still owe a fair amount on the loan, most car lenders will start repo attempts after two missed months of payments.

However, if you voluntarily surrender the car back to the lender, it has been taking some lenders months to come and get the car. Weird, I know :/

If you filed with a lawyer, sit down and discuss this situation to see what your best options are. Your attorney is likely to have prior experience with your car lender working with other clients, so he/she can tell you more about what to expect and the possible timelines and any repercussions if you do decide to walk away from the car.

[Strapped4Csh]

We just did this about a month or so ago - we were discharged in January and finally decided to turn in our van to Honda. It only took them a couple of days from the time we called to the time they picked it up. We gave up another vehicle we had leased through them before we were discharged and it went the same way.

[6thsense]

Thanks for the replies...helps alot.

[ROB37LAW]

We just did this about a month or so ago - we were discharged in January and finally decided to turn in our van to Honda. It only took them a couple of days from the time we called to the time they picked it up. We gave up another vehicle we had leased through them before we were discharged and it went the same way.

I voluntarily surrendered my nissan which was financed through nissan motors and it took them almost three weeks to come get it.