Question about auto loan after ch. 7

[Logan]

I did not reaffirm my auto loan during chapter 7 and closed a few weeks ago. The bank is pissing me off and I'm thinking about handing my car over. Has anyone had any experience with this?

Thanks,

Logan

[BassBoy]

As for them pissing you off, don't let it get to you, and don't return the car just because your mad.

But anyways, not having reaffirmed the auto loan, you can surrender the vehicle and you'll have no liabilities for any deficency balance.

Can I ask what the problem is with the bank?

[Logan]

They've taken the loan off there website and haven't sent me any statements and I am having difficulty getting any answers. I kept the car because I wasn't going to qualify for a loan but now I have a good job and adequate credit so I could get a loan.

Also, they're not reporting to a credit bureau so a new loan would help me build credit. Right now the bank would lose money if I gave it back so it would be in there best interest to cooperate with me.

Logan

[lrprn]

They've taken the loan off there website and haven't sent me any statements and I am having difficulty getting any answers.

Does your bank know that your bankruptcy has been closed? Sometimes if it's a large bank with multiple branches, it can take as long as a month for the bankruptcy folks to talk to the loan folks.

What's the bank's justification for not sending you statements now that your bk has closed?

[SinkingFast]

If you do decide to voluntarily surrender the vehicle, you can leave it at a Bank Branch if you want.

As a CYA,........... Get a Bank representative to come out, look at the car, document the overall condition, mileage, etc. Sign and date the Statement for you. That way you have proof that you indeed did surrender the vehicle to them and it did not mysteriously disappear somehow, somewhere.

[BassBoy]

If I understand it correctly.....

They've taken the loan off there website and haven't sent me any statements and I am having difficulty getting any answers. I kept the car because I wasn't going to qualify for a loan but now I have a good job and adequate credit so I could get a loan.

Also, they're not reporting to a credit bureau so a new loan would help me build credit. Right now the bank would lose money if I gave it back so it would be in their best interest to cooperate with me.

Logan

My wife kept her car through our BK (old law.....allowed a ride through) and she can not access any information with regards to her loan (via internet, US mail or phone call to local branch). When you call the bank, do you speak with someone in the bankruptcy department? When my wife calls the bank about her auto loan, she can get any infomration about her loan through the BK department, but she must speak only with them. BTW, the people that work that department are usually very nice and very helpful.

With my auto loan, I used to receive monthly statements, but once I filed, the statements stopped coming. Even after discharge, the statements did not come. I no longer have that vehicle though.

The bank can not report your auto loan payments and such because that debt was discharged and therefore, no longer exists. Reaffirming the loan would have changed that though. Since you are discharged, the payments you are making are voluntary.

[CindyLou]

you must ask for the number to the bankruptcy dept and problem solved!

[HHM]

It is fairly standard practice for banks to no longer allow online access to accounts or stop sending statements when a person files BK...so, you need to stop getting pissed aobut that.

When you call the bank, as Cindylynn pointed out, ask for the bankruptcy department.

[krielly]

I had this problem briefly after we filed. Our mortgage was sold, and the new lender (Wells Fargo) refused to mail me monthly statements, which is what I pay my mortgage from.

I got pretty ticked, because they initially said that I could get one, but I would have to call each month to request it. What a pain in the butt.

Long story short, I finally spoke to the right person at Wells Fargo, and they set it up so I automatically get a statement each month. It says "for informational purposes only", but that's fine by me. It shows what I need it to show, which is how/when my last payment was applied, and my mortgage and escrow balances.

the good news is, here in Vermont, the court just passed a local bankruptcy rule earlier this year stating that creditors are required to send statements to debtors:

http://www.vtb.uscourts.gov/issues/ord07-07.pdf

too bad more states wouldn't follow as well.........

[Logan]

Yesterday I canceled my automatic payment for my auto loan and I think they got a little nervous and today it's showing on there website.

I have every intent to continue payment but I need to see the account info.

Thanks for your advice,

Logan