Another Credit Union Question!

[Nanzee]

I mentioned in another thread that I will be paying off a car in about three months. It is with a credit-union that we also had a line of credit with, which is part of the Chapter 13. My understanding is that they will not release the title of the car, which we don't care much about. I am wondering if there is any other nasty surprises they can pull? (such as, repo the car?)

Thanks!

[newbie2]

I mentioned in another thread that I will be paying off a car in about three months. It is with a credit-union that we also had a line of credit with, which is part of the Chapter 13. My understanding is that they will not release the title of the car, which we don't care much about. I am wondering if there is any other nasty surprises they can pull? (such as, repo the car?)

Thanks!

Don't automatically assume that they won't release the title. We paid off a car with our credit union during our plan (also had a credit card with them) and got a release on the title.

I don't believe they can come and get the car as you are still protected by the automatic stay. That's just my opinion though, and I'm not an attorney :-)

[debtinohio]

Right - no repo worries and it's possible they will still send the title. Not all credit unions keep the title.

[NowImDownInIt]

Usually your title will be released. Sometimes to your trustee to then be forwarded to you. They CANNOT repossess your car though. It is still protected by automatic stay and furthermore, it is not connected to your other line of credit. Just keep making your payments and it will all turnout fine.

[Nanzee]

Thanks for all your responses - I am looking forward to having that extra money to put into savings, and I guess we all become a little gun-shy when we go through this process. Sometimes it just feels easier to expect the worst, lol!