Repo man coming...what to do? Post-BK7

[tazunemono]

OK so the repo man (men) keep coming to my folk's house. They have made 3 trips in 3 weeks. I haven't lived there in a couple years. I have my car sitting out infront of my apartment complex. What should I do? Just let them find it? I don't want them to try and sock me with any 'repo fees' or whatever, all they have to do is come pick it up! I tried one of the numbers on the card the guy left with my mom and it was disconnected.

My BK7 was discharged back in early August.

Also, the car is damaged on the side, I never got it fixed. Will they try to charge me for that ? Technically, I don't owe anything, right?! The poor Jeep has 3 bald tires and one spare on it, a nice big dent in the door, and the traction control and oil light won't go off...this thing is on its last legs! I assue they will just tow it and then auction it off...since there's no "loan" there is no "cure" amount to make them whole, I got off scot free, right?

I still "owe" $6k on it (old loan balance), so I'm basically begging them to take it. No way I would give $6k for this heap.

[DebtEnder]

just keep it out front and try the numbers again if you want them to get it. The repo guys get paid from the auction. They can't come after you for any costs.

[bcohen]

Keep driving it payment-free as long as possible! Each month you have the Jeep is money in your pocket, i.e. it's a month that you are NOT paying a car payment on a different vehicle. I don't see any reason to cooperate with the repo company, or attempt to drop off the Jeep with them, etc.

[tobee43]

what we did with one of our cars was call the lender and tell them we wanted to surrender the car. they were in absolute SHOCK. they said they never ever had anyone voluntarily surrender a vehicle. which i found surprising. anyway, they were a credit union and didn't know what to do with the car since they were only the lenders. but finally found us a place to drop it off, we took pictures and had the guy sign a receipt along with a check list that everything was good.

on our credit reports it now says "voluntarily" surrendered! it doesn't show up as a re-po at all. ours is the first i have heard listed like that. now, sorry, i do have a point here...i would see if you can do what we did. although, if it was included in your bk i don't think they can then ADD a re-po, but i'm not certain about that.

[malf1204]

They cannot charge you for fees or damage or anything. I would make sure any personal property is out of the vehicle and if you have to return the tags they are pff the vehicle. Here in Maryland we have to pay insurance until we return the tags. If the repo it with tags they could charge a "storage fee" for your tags or personal property. It is a grey area as to if it is legal.

[AngelinaCat]

We did something similar to what tobee43 and her DH did. 'Hub co-signed for a car loan for an acquaintance whose credit was bad. (First clue Sherlock, don't do this!)

So when the acquaintance started defaulting on his payments, 'Hub got the dunning notices. After a few months of this and promises to do better, acquaintance finally said he couldn't pay, and would not. 'Hub made him surrender the car to us, and then 'Hub made the arrangements and had the car picked up. He photographed inside and out, and had the roll-back driver sign a receipt and also do a walk around inspection.

We were left with a $13,000.00 difference after the car was sold at auction. We filed BK--were going to anyway--and discharged that debt. Acquaintance did not file and has a judgment on his record.

[tazunemono]

OK I wanted to make sure the Sheriff wasn't going to show up and arrest me for possession of a 'stolen' car...I figured since my name is still on the title, it's mine until it's not...tags are paid up until Dec 3rd 2012. If they don't get it before the tags expire, can I renew the registration without incident? Is there some kind of 'flag' at the County Clerk's office on my car post-BK? I have a feeling they will find it before then....if so, no worries I have ca$h for a used car thanks to not having a car payment!

[bcohen]

You do not have to worry about being accused of having a "stolen" car. The car is titled in your name. The lender has a lien on the title. This is very similar to having a house which is deeded in your name, but has a mortgage lien. The house would still be yours to live in or rent out until and unless the lender forecloses its lien. The auto finance lender has to reposess the car and sell it in order to transfer title out of your name. If they never get around to reposessing it, or decide that the value is too low to justify the repo costs, then you can keep driving it until it dies.