Billing statements

[Donald Baker]

Filed my ch7 petition the 19th, wondering if the mortgage and car I'm reaffirming will continue to send my billing statements to me. Whats everyone elses expirience been?

[CPO]

Don....

See this thread, scroll down to Sink's response to my Q's.............

http://www.bankruptcyforum.com/showthread.php?t=13206

CPO

[poorme]

Once the automatic stay is in place (a result of your filing), the lender will stop sending invoices/bills/payment coupons - as to do so violates the terms of the stay. They can't take any action that 'looks' like they are collecting on the debt, and submitting a bill would look that way, even if you were current and everybody is on board. This is why mortgage holders have to file a request for Relief from the stay - in order to proceed with their normal processes.

If it is your intention to reaffirm and continue making payments, get proactive about it with your attorney early on, as there are way too many tales here of intended reaffirmations that never got completed, and homes were lost because of it. If you don't want to reaffirm and plan to continue making payments - you're out of my knowledge area, but others here can hopefully help out.

[ilovemycaitybug]

Filed my ch7 petition the 19th, wondering if the mortgage and car I'm reaffirming will continue to send my billing statements to me. Whats everyone elses expirience been?

I'm glad you brought this up... We're reaffirming our home and cars as well and I actually hadn't even thought of this since we just pay everything automatically. Thanks for the answers!

[NowOrNever]

For our car, which was reaffirmed with Ford, I never received statements and couldn't pay online during our C7. I called them and got the address and sent my payment every month. Now that we've been discharged, I'm back to my eBill and paying online.

For our mortgage, which wasn't reaffirmed, they send monthly statements with a payment coupon and always have since our filing. But there's a paragraph on there that says something about the statement being for informational purposes only and is not a demand for payment.

[CATCHMEIFYOUCAN]

When I was in Ch13, Hyundai Financed Motor Co. stopped sending me statements and just said I could keep paying (ride through as they call it) my car payments. When I switched to Ch7 after I was discharged they picked back up on sending me statements, I'm hoping they are reporting my payments to them through the 3 credit bureaus.

CMIYC

[wayne-o]

I am in chapter 13 and I receive a statement each month but it clearly states it is for informational purposes only and not a bill

[CPO]

For our car, which was reaffirmed with Ford, I never received statements and couldn't pay online during our C7. I called them and got the address and sent my payment every month. Now that we've been discharged, I'm back to my eBill and paying online.

For our mortgage, which wasn't reaffirmed, they send monthly statements with a payment coupon and always have since our filing. But there's a paragraph on there that says something about the statement being for informational purposes only and is not a demand for payment.

NowOrNever,

Thanks, that's great info. My car is financed through Ford also.

If you remember, was the address you sent the payments to different from the "regular" address....

I noticed that on the back of my payment coupon, there is an address for the National Bankruptcy Service Center in MI. Was this the address?

Did you call the standard customer service number to ask for the address?

Did you send any kind of payment coupon with your payment...like an old one perhaps....

Sorry for the detailed Q's....just planning....

Thanks,

CPO

[manglicmot]

Now or Never and CPO - My car is financed through Ford too. My attorney told me specifically that he has been doing "ride throughs" for all of his C7 clients ever since the law change and Ford recently started giving him a problem. He said he lost a case in BK court that would force a reafirmation, but he is appealing that decision to a higher court. (My lawyer is one of those high profile BK attornies, in the news, giving seminars and on talk radio)

I will be sending my payments by mail to the Pasadena address, not the BK address in Livonia. I will try to pay on line if I can, but apparently they don't allow on-line payments for BKers. My case is not filed yet, I go in with my paperwork tommorrow.

[CATCHMEIFYOUCAN]

Even though I'm with Hyundai, I had to send my payments directed elsewhere as well, now that I've been discharged it seems I'm sending my payments to where I originally began.

CMIYC

[juststupid]

Ok so I have an question related to this... In January the car I had since 2001 got to be too small and a little to unsafe for my own good especially since out of the two cars we have it was the only one that fit our family. Well it broke down and would cost too much to fix so we traded it in and bought a new (well new to us 2002 Ford Explorer). Our lawyer says it will not be a problem ok I believe him. But I didn't think about the payments.

Since the loan is so new will the company want to cancel our loan and we lose the car or will they work with us so that we can keep our car?

[NowOrNever]

CPO,
I had always paid using Ford's eBill service, so I'm not sure if it was a different address than I would have originally used. It was in St. Louis, though, I do know that.

Do you have your account online with Ford? When I was unable to make my payment with eBill after I filed, I called the regular customer service number that was listed. When they brought up my account, they transferred me to the bankruptcy servicing folks, who gave me the correct address.

I always went online and printed out my account status page and included that with my payment. I also wrote my account number on the check. Then I could check my account status online to make sure my payment had posted.

Our attorney advised us when we started that he didn't want us to do reaffirmations, but Ford insisted. Then we ran into trouble because our disposable income was so low and we had to go in front of the judge to prove that we could handle it. Thanks to a letter from a relative agreeing to help us if we needed it, the judge approved the reaffirmation. He said he didn't want to play chicken with Ford on whether they would take the vehicle or not if we didn't reaffirm and we obviously needed the car.

[SinkingFast]

Ok so I have an question related to this... In January the car I had since 2001 got to be too small and a little to unsafe for my own good especially since out of the two cars we have it was the only one that fit our family. Well it broke down and would cost too much to fix so we traded it in and bought a new (well new to us 2002 Ford Explorer). Our lawyer says it will not be a problem ok I believe him. But I didn't think about the payments.

Since the loan is so new will the company want to cancel our loan and we lose the car or will they work with us so that we can keep our car?

Generally speaking, NO, JS.

Lenders are in the business of making money. That's getting regular monthly payments from you as agreed. They are not in the business of owning cars or houses or whatever else we financed.

Lenders just want MONEY!!

[juststupid]

Generally speaking, NO, JS.

Lenders are in the business of making money. That's getting regular monthly payments from you as agreed. They are not in the business of owning cars or houses or whatever else we financed.

Lenders just want MONEY!!

Thats good to know, because I would hate to lose my SUV. I went from a small car to the SUV and would hate to have to just rely on my husbands 2 door car.

[CPO]

CPO,
I had always paid using Ford's eBill service, so I'm not sure if it was a different address than I would have originally used. It was in St. Louis, though, I do know that.

Do you have your account online with Ford? When I was unable to make my payment with eBill after I filed, I called the regular customer service number that was listed. When they brought up my account, they transferred me to the bankruptcy servicing folks, who gave me the correct address.

I always went online and printed out my account status page and included that with my payment. I also wrote my account number on the check. Then I could check my account status online to make sure my payment had posted.

Our attorney advised us when we started that he didn't want us to do reaffirmations, but Ford insisted. Then we ran into trouble because our disposable income was so low and we had to go in front of the judge to prove that we could handle it. Thanks to a letter from a relative agreeing to help us if we needed it, the judge approved the reaffirmation. He said he didn't want to play chicken with Ford on whether they would take the vehicle or not if we didn't reaffirm and we obviously needed the car.

Thanks again for the info.

I had not signed up for electronic payments via my CU until yesterday. Seems like a good idea now. It may make things easier.

I do have an online account with Ford. That's a good system you have there and I will use it also....giving you full credit, of course!

I think I see what happens now. When creditors get your BK notification, probably electronically, they immediately freeze your account to prevent a violation of the stay. Kinda leaves you out in the cold. They may or may not see the Statement of Intention which would notify them that you want to reaffirm.

I guess you need to call them at that point, inform them you want to pay/reaffirm, then they can give you an address.

They still can't send you a statement for fear of violating the stay, as there is no "legal" process to allow communication between debtors who desire to reaffim and creditors who probably want to cooperate.

Even after the 341 meeting the "reaffirm" creditor, who may confirm with you that you intend to reaffirm verbally, still can't send you billing.

Only after the automatic stay expires or somebody files for relief can the payment stubs continue.

And then of course, the Court must approve...........what a screwed up system.

Hey, leave it to the courts..............

Perhaps a solution is to be proactive about this situation. As soon as you file, immediately call your creditors that you want to reaffirm with, give them the information they need (and vice versa) and let them know you intend to reaffirm. Hopefully, they will see the light and provide you with the tools you need to make payments.

Thanks, I'm beginning to understand this process now,

CPO