Help...freaking out

[slg1234]

Okay...I will try to make this as short as possible...Filing chapt 7...keeping house and car. My attorney suggested I apply for a 722..did that and she also told me since i was going to do a 722 to stop making payments on my car...so i did. The numbers for the value of my car varied so greatly to what Citizens auto valued it and what 722 valued it as that it was going to be no savings so we scratched the idea of 722. In the meantime i am 2 months behind on my car payment(due to my attorneys advice) and Citizens files for Relief of stay and abandonment. My Attorney talks to their attorney and Citizens attorney agrees if I send a cashiers check for missed payments they will drop it. In the meantime I have my 341 meeting and find out my attorney's office used VERY low numbers on the value of my car and house..so the trustee didn't like that. My attorney sent and ammendment to change those values. Tonight I check pacer and I found an "order granting relief from stay and abandonment".....Is that good or bad???? does that mean they will continue and come repo it?? Second thing I find on pacer isthat the trustee is requesting a hearing on the reaffirmation agreement because they are uncertain about the value of the car. What does all this mean???? All sounds like bad things to me...Anyone know??

[lrprn]

Tonight I check pacer and I found an "order granting relief from stay and abandonment".....Is that good or bad???? does that mean they will continue and come repo it??

Sounds like the court has given your car lender the go ahead to start actions to repossess your car. How quickly that can happen and if you can buy your car back just by making up the deficiency depends on which state you live in and your state's laws regarding repossession. Which state do you live in?

Second thing I find on pacer isthat the trustee is requesting a hearing on the reaffirmation agreement because they are uncertain about the value of the car. What does all this mean???? All sounds like bad things to me...Anyone know??

Your trustee thinks the car value on your reaffirmation agreement is incorrect. He's likely trying to figure out exactly what your car is really worth and is requesting a hearing to resolve the inconsistency.

Contact your lawyer immediately to find out how she intends to deal with these problems. She has been notified about these motions as well, but it can take up to a week for the paper versions of what you found on PACER to arrive in yours and your lawyer's mailboxes.

[slg1234]

I live in Ohio. I talked to my attorney's office this morning and she was going to contact the attorney that she spoke to before that said we could send him a cashier's check for the back payments and he would tell Citizen's to back off. I have not heard back from her yet. If I am upside down on my payments why would they WANT the car?? I have already signed an affirmation agreement with them.


The deal with the hearing for the reaffirmation has to do with my house and not my car. The trustee did tell us at the 341 hearing that he was going to request this hearing. Not sure what his agenda is and my attorney is not sure either but it sounds like he is going after some of these 2nd mortgage companies to see if they are actually doing the proper paperwork and appraisals before allowing people to take 2nd mortgages out on their homes

[slg1234]

I have waited all day waiting for a response from my attorney and they have not heard from Citizen's attorney either. I just dont want to have to stress about this all weekend. If a creditor is granted a relief from stay can they come get the vehicle anytime??...or do they have to wait until the case is discharged? I know it's only been a day but I don't want the knock on my door or the phone call in the middle of the night telling me they are taking my car

[lrprn]

I know it's only been a day but I don't want the knock on my door or the phone call in the middle of the night telling me they are taking my car

The danger is until you get this straightened out that you'll get up one morning and find the car gone. If you can put the car in a garage out of sight at night, that would help. At least the repo man will have to come to the door that way. And to be safe, leave nothing in the car that you need until this is straightened out. Repo guys will take the car anywhere they can get it - your work parking lot, for example.

Hang in there. The law moves at its own glacial pace....it's maddening!

[slg1234]

Is there anyone out there that has had their car repo'd that can tell me how long it took? Before I filed I had mine repo'd after 2 months of missed payments. I paid the money to get it back the next day though. The relief of stay was granted yesterday...they wouldn't possibly act before Monday..would they??.....grrrr

[CindyLou]

My advice would be not to keep anything personal in the car. Or if you really want to be safe until you can straighten this out, can you go stay at a friend's or relative's house for the weekend?

[JRScott]

If the stay was granted the repo man could come at any time.

I would not leave any personal belongings in the car.

[slg1234]

Two nights down...one to go. If I can get through until Monday the attorneys should be able to have this straightened out. Wish me luck one more night!!!

[lrprn]

Two nights down...one to go. If I can get through until Monday the attorneys should be able to have this straightened out. Wish me luck one more night!!!

Sorry to be the downer here, but even if the lawyers do reach an agreement tomorrow, that won't automatically call off the repo man It might take a few more days for the trustee's office to reverse the repossession order and notify the repo man.

Until you see an official document that resolves your problem on PACER, still keep all personal belongings out of your car just in case. Hope everything goes your way tomorrow as the lawyers work things out, slp! Keep us posted on what happens, ok?

[slg1234]

ok..This just keeps getting worse but hopefully the end is near. My attorney's office finally got a response from Citizen's attorney yesterday. They are saying that they never received the cashier's check we sent them to catch up my missed payments. I called the bank to confirm and it has not been cashed. Secondly, Citizens will NOT sign reaffirmation agreement..too many missed payments and was repo'd once already. They said the MAY allow me to catch up but if i am late by one day ..one time...they will come get it. So I'm convinced my best option here is a 722 replacement. So then I think everything is all good because I can stop payment on the cashier's check and use it as a downpayment...WRONG!! My bank informs me you cannot do stop payments on cashier's check...so the money is just GONE. Citizens has given me a week to figure out what happened with this check. So I guess the result is I will be getting a car from 722 which I'm thinking is for the best anyways. I will be going from a 2005 Impala with 80,000 to it looks like a Taurus or Malibu with anywhere from 22,000 - 35,000 miles on it. Just bites that I can't get that money back from Citizens or that its just 'lost'. My attorney says there is still a small bit of hope that they will refuse any payments from me and send it back. Apparently she has had creditors that have done that before....but I'm not counting on it. They would be crazy not to cash that check if they find it.

[tiredofdebt1]

In the beginning though...were you going to try to do a 722 before the 341 meeting? I thought you could only do it afterthe 341 meeting.

[slg1234]

Yes I was....I was never told that you had to wait until the 341 to do one. Neither my attorny or 722 ever indicated that to me...Not sure if that is the case or not.

[tiredofdebt1]

So you had gotten approved prior to the 341? Who did you go through? That is my situation now....im not sure how long i need to wait to do a 722..i have received conflicting info on the forum regarding it

[slg1234]

I never was technically 'approved' because I never followed through with my original call when i was going to do the redemption loan. There is a website for 722 redemption and you can go there but I had my attorney contact them and they contacted me. They never asked if I had my 341 hearing yet so I never knew that was an issue.

I called 722 yesterday about the replacement car. They did a quick check and took about 2 hours for them to call me back and tell me I was approved. They gave me a name and number for a dealership in Columbus and they sent me to a website I coudl go to and look up a list of cars they gave me. There were about 20 to choose from. All of them are 2003 or newer and have less than 40,000 miles on them. The interest rate is 24% and they will not finance more than 60 months. I have a little bit of paperwork to get together for them and I have to pay tax as a downpayment (roughly $650) and they said they could have my car delivered in 5 business days generally from the time they get my paperwork. Most of the cars are valued between $9000 - $12,000 and she told me most payments are between $325 and $370 a month (paying $365 on the one I have). The lady I spoke to at 722 was VERY nice and very helpful. Her suggestion was that I take this loan...make on time payments for a year or so and refinance at a lower rate. Didn't sound like a bad deal to me. It really is not a bad deal to help get you into a car...yes the interest is high but in a year there should be no reason you could not refinance or trade in.

What negative things have you heard about doing this?