Financed a Car after BK 13 dismissal

[Johnworker1]

When I filed I had a suv that just went out of warranty at 100K so turned it in. While in BK I saved enough to buy a cash car and it was very problematic so I bought newer in increments until I had reliable transportation. They dismissed my case in April and I am tired of the unexpected repair bills (and old cars) so went out on a whim and started applying from auto credit. I tried 1 dealership and a few online offerings (direct to finance co) and got all NO's. About to give up and tried Capital One and was preapproved and bought a used car in warranty that gives me some peace of mind. It looks like I will be filing again soon so don't know what affect this may have on my filing besides having another creditor.

[justbroke]

It shouldn't affect your filing at all. CapOne is a secured creditor.

[Johnworker1]

I ended up getting title in the mail recently. It appears they were paid off. I thought I would get it after my discharge so it was a pleasant surprise.

[shipo]

If Cap One was paid off, then the title is yours. I assume your monthly payment to the Trustee hasn't changed; just that the Trustee will now direct the funds which used to go to Cap One to your unsecured creditors.

[sophieanne]

Johnworker1 - that's good news that your vehicle is paid off and your got your title..congrats! shipo - some financing companies will hold the title until the plan is complete because if for some reason, it doesn't complete, they can come after you for the amount of interest that was crammed down during the plan. When my vehicle was paid off in the first 6 months of my plan, Toyota financial made that very clear to me. So it's really the decision of the finance company if you get the title back as soon as they vehicle is paid off (during the plan).

[justbroke]

I had to practically threaten my lender for both my titles. The first one came fine. The second one was a battle and almost ended up with me filing a Motion for Sanctions because they made all sorts of excuses. The funny thing was they said they "lost" the title, but they actually mailed me the title. The things a creditor will say to get you off the phone are incredible. Lost the title... LOL!

[shipo]

shipo - some financing companies will hold the title until the plan is complete because if for some reason, it doesn't complete, they can come after you for the amount of interest that was crammed down during the plan.

Thanks, make sense. I didn't get Johnworker1's loan was a cram-down.

[Johnworker1]

I had to practically threaten my lender for both my titles. The first one came fine. The second one was a battle and almost ended up with me filing a Motion for Sanctions because they made all sorts of excuses. The funny thing was they said they "lost" the title, but they actually mailed me the title. The things a creditor will say to get you off the phone are incredible. Lost the title... LOL!

Sorry to hear about your battle. I am learning the less I know and verify the more games creditors play and the more I pay hence I am back at researching and learning how to advocate for myself.