Bank to lift automatic stay

[marzipan13]

When my auto loan bank goes to lift the automatic stay in order to repo the car, will it show up on PACER?
How long does it take to process their request with the court?
Once the stay is lifted, how long before the repo?

I'm freaking out because the bank told me last Friday that someone this
week would be working on my bankruptcy issue.
Someone from the bank just left a message on my cell to call them.
I'm hoping to buy a new (used, cheap) car this weekend and that I
have enough to time to do so before the repo!
ACK!

[HHM]

Yes, the bank has to file, with the BK court, a Motion to Lift the Automatic Stay and that document will show-up on PACER when it is filed.

As far as how long, that depends on the court, but the typical timeline is 30 days. There will be a hearing scheduled and an Order needs to be issued.

As for when they actually repo, again, that depends on the company. Once the company has the order to lift the automatic stay, your car could be repo'd in 2 days or 2 weeks.

Also, DO NOT try to hide the car, since the lifting of the automatic stay is for the express purpose of getting the car back, it is possible that you could be held in contempt of court if you hinder that process (although, it is a rare occurance).

[marzipan13]

bank wanted to know my intentions

Well, I called the bank back.
They said since I am pro se, they contacted me to ask what are my intentions with the car since I am 45 days past due.
I said that the court gave me a deadline of 7/30 to file the statement of intention and that I don't have an answer yet.
She asked again what my intention was and I just responded with that I have until 7/30 to decide. And then we ended the call.

A shiver ran up my spine that she's gonna run to the court to get the stay lifted! yikes!!

But if it's going to take them a little time (approx 30 days), then I feel a little releaved that I'll have enough time to get another car... within a week or so.

I live in the country so there isn't much traffic noise and we have stone driveway so anytime a car comes it makes a lot of noise. But at night I'm having trouble sleeping cause I'm always listening for the sound of a tow truck backing up (beep beep beep). I even turned off the AC so I can hear better!
LOL
One evening (before I filed), I heard a big truck coming down our driveway and I was only in my pajamas. I threw on some pants and ran out to my car, come to find out it was only the truck delivery propane! HAHAHA!

[HHM]

First question, you are in an active BK, where exactly are you going to get the money to buy a car? You can't finance one, and if you have cash lying around that you cannot exempt, the trustee is going to want that money.

If you do have the cash lying around, or if someone is going to give you the money, wouldn't it be cheaper to bring your existing vehicle current?

If you can "afford" the car payment after all your other unsecured debt is whiped out, why not just keep your current car? All you gotta do is bring the payments current and give the bank an Adequate Protection Order in the BK. (note, this is something we can't really walk you through, do a search about Adequate Protection Orders). In essence, if the Bank does file a Motion to Lift Stay, call thema and offer an Adequate Protection Order. In the APO, you will need a plan to pay back the arrears and you will have to start making the car payment on time.

[marzipan13]

First question, you are in an active BK, where exactly are you going to get the money to buy a car? You can't finance one, and if you have cash lying around that you cannot exempt, the trustee is going to want that money.

My father will be giving me $1500 to buy a used car. It should be exempt because total that I've exempt so far is $1900, I own very little.
Also, I thought the exemptions count for whatever assets I had at the time of filing. Would I need to add this $1500 gift from my father (that I will use to purchase car) to my paperwork that I've already filed? How do I do that?

If you do have the cash lying around, or if someone is going to give you the money, wouldn't it be cheaper to bring your existing vehicle current?

I could get caught up on the monthly payment, but the interest is so high and the bank won't lower it since I've only had the car 10 months.

If you can "afford" the car payment after all your other unsecured debt is whiped out, why not just keep your current car? All you gotta do is bring the payments current and give the bank an Adequate Protection Order in the BK. (note, this is something we can't really walk you through, do a search about Adequate Protection Orders). In essence, if the Bank does file a Motion to Lift Stay, call thema and offer an Adequate Protection Order. In the APO, you will need a plan to pay back the arrears and you will have to start making the car payment on time.

I can't afford the car payment anymore, that's why I plan to surrender it.
My husband was overseas when I financed the car, and I could afford it when I was only providing for myself. But since I got the car, our living conditions have changed and my husband is now in the USA, so I am supporting the both of us until he has work authorization (6-12 months from now because I can't afford the $200 fee for his Employment Authorization to USCIS).
After deducting my monthly expenses from my monthly net income, I'm in the negative. But I will have some increases in salary and decreases in expenses, I will come out even or maybe a little more ($100+/-).

[HHM]

Let's fill in the picture a bit more...how much unsecured debt are we talking about for which you need to File BK? What is your income, and what is the current car payment?

First off, I would probably say that $1,500 doesn't buy what it used to as far as cars go, so you may want to consider cost of ownership issues if you buy a "cheap" car.

High interest rate is simply a reality, the issue is the payment amount and what you can afford, not the interest rate.

Based on what you said about the expenses, you may want to hold off on filing BK. If BK won't immediatly solve your financial issues, i.e. get you back into balance, then don't file BK yet.

[marzipan13]

BK summary

I have about $69k in debt.
$20k student loans (cant be discharged)
$18k auto loan balance
$1k medical bills
$30k misc (credit cards, tuition owed)

My credit limits got so high because I lost my job in 2003.
I went from $25k a year to $13k. All I could pay was my insurance,
cell phone, and car insurance. At that time I had about $7-10k in
credit cards. They've skyrocketed because of not being able to even
pay the minimum, over limit & late fees each month. Earlier this year,
they started judgments against me which added lawyer and court fees
to the balances.
I've been struggling ever since to find a job, which I finally landed
last October... but still only making about $22k a year.
I made a big mistake financing a new car right after I got my new job,
but I only did so because the financed car I had before was past it's
warranty and had major mechanical problems (I was spending $1k every couple months!). I stupidly thought getting a newer car with warranty would be better... I was sooo wrong.
I got married and have been helping my husband come to USA, which has cost me a lot in trips overseas, financing his immigration and not supporting him until it's all finalized (hopefully within 6-12 months).
I've already filed for chapter 7 because the credit card companies have already garnished my bank account and tried to garnish my wages (a part-time job I had right before I got the new job). I knew that any day now they would garnish my new job wages and I'd be totally screwed.
I only bring home about $1400 a month (due to leave with out pay days that I've had to take for my husband's immigration). I received cost of living increase to $1500 that starts sometime this month, and I should get my career ladder promotion next month ($1700 take home).
My expenses are $2100 a month, mostly due to the car! I'm paying $420 car payment, $125 insurance, and $300 in gas! If I didn't have the car payment, I'd break even each month. The only way that I was able to make ends meet was that last year my father was helping to pay my bills since I was out of work for almost a year. (Dec. 2005 - Oct 2006)
I only have $1900 in assets, which are exempt.

My only choice is to file bankruptcy. I need to give up the car because I can't afford it. I thought I could at the time I bought it, but realized within 6 months it was a big mistake.

I know buying a cheap car has its risks, but I only need something that will last 6 months or so. By that time, maybe I can afford to get my husband's work authorization paperworked filed and he can start making some money to help support us.... then maybe we can save a little to get a decent car.
But no financing for me for a lonnnnng time!

[CindyLou]

Listening for the repo man won't help. Once he's there he takes it whether you come out or not. Make sure you take all our belonging out of your car. You can check pacer to see if a motion to lift the stay has been filed and if it was approved. That way you won't have to wonder.

[Spartan]

"....I only bring home about $1400 a month (due to leave with out pay days that I've had to take for my husband's immigration). I received cost of living increase to $1500 that starts sometime this month, and I should get my career ladder promotion next month ($1700 take home).
My expenses are $2100 a month, mostly due to the car! I'm paying $420 car payment, $125 insurance, and $300 in gas!..."

You can't afford that car. The car eats up $850 when you only take home $1400.

"...so I am supporting the both of us until he has work authorization (6-12 months from now because I can't afford the $200 fee for his Employment Authorization to USCIS)..."

Why not borrow the money from your dad and get the hubby a work permit ASAP? Even if he just flips burger at McDick, he will still be bringing home many times the $200 outlay, each month. Go stock shelves at Target. That is $1300 take home, a month.... I did that...

[marzipan13]

Why not borrow the money from your dad and get the hubby a work permit ASAP? Even if he just flips burger at McDick, he will still be bringing home many times the $200 outlay, each month. Go stock shelves at Target. That is $1300 take home, a month.... I did that...

If it could only be that simple. My husband doesn't speak English. I am fluent in Turkish, but he needs basic English in order to go work anywhere.
He has family here that has a painting business, but he needs the working papers - otherwise $10,000 fine if he's caught working.
There are some free beginner English classes that start in September, which I'm going to sign him up for. And he's already learned a lot of new helpful phrases since he's come to USA.
There are other English school here, but range from $1000-$3000 per semester. Which is out of the question... so, I've gotten him a lot of books and computer software to practice, and it's helping...

But how can I borrow more money if I've already filed for ch 7? That is taking on more debt.

[JRScott]

Yep you shouldn't take on more debt. However if your father was to gift you some money that's different.

I do hope you get this all sorted out.