Chapter 13 Question (Repoed Car)

[Carloscda]

My car was recently repoded for the 2nd time being that I've been laid off longer than expected. I was only down 2 payments, the rep with honda finance who was rude said I have to send those 2 payments in to bring loan current. I told them no problem as soon as the money is deposited in my account (which would take another 2 days) you got it.
That was in the afternoon, that night I see my car going down the street!
I only have 1 1/2yr left on the car they said I have to pay 7k to get it back. I also only have 4k in debt.
Now will filling 13 get the car back & what type of payment plan might i be on? The note was $425mo/$220ins
This Happened this past Tuesday, I contacted a Lawyer on Thursday, referred by someone I know at a Law firm. He's charging me $700 to take the case as a favor, he usually charges 1k. When I tried to talk to honda they said I have until June 13th.

I still have a yr left to collect unemployment which is $1660mo.

Thanks in advanced!

[Flamingo]

You do not provide enough information for anyone to help you as to anything regarding whether or not you can file a Chapter 13. If you are not employed, you will not be able to fund a Chapter 13 (Wage Earner's Plan). If the attorney charges $1,000 and is giving you a discount, you are looking at a Chapter 7. Your car was repossessed due to nonpayment (breach of contract). They have every right to do that if you don't pay on your car loan. Oonce you miss your first payment, they can come get the car at any time thereafter no matter what you tell them to delay them.

I would suggest posting more information as to the amount of all your debts and assets and a bit more as to your situation so others can chime in and help you out.

[Carloscda]

As stated I collect unemployment right now being that I was laid off. We were supposed to go back in March but now the date has been pushed back.
I collect $1660mo. I have a yr lft before it ends.
I have assets of 14k from my last job.

I have about 4k in debt, the rest was charged off already.
They want me to pay 7k to get the car back.

And far as the fee goes, he's only charging $700 for his services because my friend knows him.
I still have to pay filing fees etc..

[Ifonly]

Personally, I wouldn't file CH13 just for a car (if that's truly the case). If you have $14K in assets, just go back a used car and save yourself the payment every month, etc. Just let it go.

[CH33 Paralegal]

If you want the car, you have to pay for it....bottom line.

They have the right to charge repo fees and hold you responsible for them. If you dispute the amount of what you owe, please be aware that bankruptcy will do NOTHING for that.

Depending on how long you've been unemployed and how much you earned before then, you might be able to do a CH7 where you could discharge the amount of the auto deficiency.

Filing a Ch13 when you're unemployed is not something very many firms will do. a Ch13 is built around repayments...if there is no money, then a Ch13 simply can't exist. If you don't have steady income, there aren't many firms that will do it.

Also, you are trying to STOP A REPO SALE. Please also be aware that just because you file, it in NO WAY, GUARANTEES that you get your car back. That is one of the biggest misconceptions out there. Lets say you wait until the day before the car is sold at auction. Unless your counsel acts fast, there is very little chance that you can stop the sale before it happens. the stay doesn't trump the sale.

A trustee payment will consist of the amount owed on the car with interest over the life of the BK. The monthly payment doesn't hold any weight on the trustee payment.

[Carloscda]

As stated I have a yr left to collect unemployment.
The only reason I went this route was after reading people who have filed 13 (on this site someone said the did it this way). And on various Bankruptcy sites lawyers say it can be done.

http://www.orlandobankruptcyhelp.com/repo.htm

http://www.atlanta-bankruptcy-attorn...too_late_.html

http://www.atlanta-bankruptcy.com/st...ossession.html

I googled "after filing chapter 13 unable to get car back after repo" and nothing comes up? Just the opposite of people who've gotten their vehicles back.

I have the funds for the past 2 payments & repo fees but not 7k.
The 14k in assests is from an ESOP from my last job which starts to pay out in July.

Not trying to dispute anything and I don't mind resuming the regular payment!

[CH33 Paralegal]

a 13 is much much longer than one year. and unemployment is not steady, nor guaranteed.

so google has nothing....but I work at a firm that deals with numerous stop repo sale cases and files numerous 13's. I never said it wasn't possible, but I did say that some firms might not want to represent a repayment plan for someone without a job.

If you haven't met with an attorney yet, you need to hustle up and get a few appointments scheduled.

[Carloscda]

a 13 is much much longer than one year. and unemployment is not steady, nor guaranteed.

so google has nothing....but I work at a firm that deals with numerous stop repo sale cases and files numerous 13's. I never said it wasn't possible, but I did say that some firms might not want to represent a repayment plan for someone without a job.

If you haven't met with an attorney yet, you need to hustle up and get a few appointments scheduled.

Thanks for your insight, I know it's 3-5yrs. I have a lump sum of money coming to me but I won't have it ti'll the end of July. Just trying to get out of this jam now!
I'm presently meeting with the attn, getting necessary paperwork together.

How did those cases work out?