Chapter 13 after repossession

[dvdcsr]

Is it possible to file Chapter 13 after your car has been repossessed and get the car returned?

[NowImDownInIt]

Yes. You have to file within ten days of the repossession and the car will be returned. In my case, car was repoed on Friday, filed Saturday, got it back Monday. This is only the case in a 13.

[dvdcsr]

Is this true for all states? I live in CA.

[NowImDownInIt]

I think it is. It's federal bankruptcy law that makes it so. The return of your car is mandated by the automatic stay that is put into place the moment you file. After you get your car back you will make all the payments through the plan. If you had a high interest rate (like mine that was 18%) it will likely be negotiated to a smaller rate (mine is currently 7%)...

[dvdcsr]

First thanks so much NowImDownInIt. I did a little research and spoke with an attorney. Looks like I have 15 days to file and get the car returned, whew!! It's very expensive to hire this attorney. Did you by any chance file yourself?

[NowImDownInIt]

No, I needed it to be done quickly and didn't have time to research the process and had no idea who to call to find out where my car was... attorney took care of everythign and was totally worth it. I'm glad you have 15 days where you are! I didn't and I was freaking out!! My retainer was $500 (the remaining balance of the attorney's fees were rolled into my plan payment as most people's are), and it felt like "whoa, I don't have this kind of money" but I sure didn't have $15k to pay off the remainder of my loan to get the car back. If you can't come up with it yourself, I would ask a close friend or a relative to help you come up with just the retainer, but be sure to let them know it might be a while before you can pay them back. Filing a 13 pro se can be VERY tricky and it takes a very good attorney or a research minded person with a lot of time to spend on it to do it correctly. For me it was worth each and every of the 50,000 pennies...

Good luck,
NIDII

[NowImDownInIt]

First thanks so much NowImDownInIt. I did a little research and spoke with an attorney. Looks like I have 15 days to file and get the car returned, whew!! It's very expensive to hire this attorney. Did you by any chance file yourself?

ALSO, look into other attorneys!! Don't pick the first one you meet. ALL of them can get your car back, but this attorney is going to be with you for the next 3-5 years, so don't make the decision lightly.

[dvdcsr]

Thanks for all your suggestions.

[dvdcsr]

Repossession

Hi all,

I posted here a couple of weeks ago regarding getting my car back after a repossession. I was told, by an attorney, I could get it back within 15 days of it being repossessed. Well, I decided at the time to forego Chap 13 due to my money situation. Well a few days ago I received a letter from my lender saying that they have extended me an additional 20 days before my car is sold at auction. I thought at this point the car was already at auction. My question is if I file chapter 13 now am I still able to get my car back or did I have to file within the inital 15 days?

Thanks

[Carloscda]

Yes. You have to file within ten days of the repossession and the car will be returned. In my case, car was repoed on Friday, filed Saturday, got it back Monday. This is only the case in a 13.

How were you able to get your car back sooo fast?
What about all the paper work ie credit counseling course etc?

[falken]

How were you able to get your car back sooo fast?
What about all the paper work ie credit counseling course etc?

If you take the course online you can generally have your counseling certificate emailed to you the same night (depending on the place).

You can then file an emergency petetion and amend it with the rest of the information later, you don't have very long to get that done however.

Either way, it does seem insane to me. It took me 3 months of working with my attorney to be get everything to be able to file. Mine was a very complicated case however.

[Carloscda]

Yea, I guess depending on where & who you file with.
I had to make an appointment per atty to take the counseling course which ended up being 3 days later. Then I didn't receive my certificate until a couple of more days after that.
My case is straight forward though.