surrendering property

[aachudneymiles]

I was wondering what is the deadline for surrendering secure property my car a 2006 pacfica the fin. company is writing and I have rec'd one call about the car asking when I am surrending it. I want to give it back at last possible minute, does anyone know how long I have from meeting of creditors to give it up?

[oldbaddebts]

Simple answer, you have 45 days from the date you filed your statement of intentions.

Personally, I waited until the last day to file my statement of intentions, and said I would reaffirm. Then the lender sent me an agreement and asked me to send it back within 10 days, I signed and returned on the 9th day. They will file it with the court, and I have to have the reaffirmation hearing. I will try to get the agreement accepted, then I have 60 days to simply write a letter (certified mail) to the creditor cancelling the agreement if I choose to.

I bought the car in Aug 07 and have not made a payment yet, also I have called the fin company every other week to discuss it and claim that I will get it current after agreement is approved so I don't throw money away. They have reassured me they won't try to lift the stay at all, and will wait till Discharge to take if I don't get reaffirmation accepted. They say they will more than likely defer payments to make it current as of the date of the acceptance, but can't guarantee that because that would be seen as attempting to collect a debt, they can't discuss payment arangements. They did "hint" that they would rather I not be more than 90 days past due.

During this time, I have been looking at alternative vehicles, financing, etc.. and will continue to do so until the 60 day period that I can cancel the agreement is up. I was approved through LoanZone, but I didn't like the 6 references requirement and the complaints online about them contacting references to harass them even before payments are due.

As usual, more information than requested, but hopefully it helps.

[aachudneymiles]

Simple answer, you have 45 days from the date you filed your statement of intentions.

Personally, I waited until the last day to file my statement of intentions, and said I would reaffirm. Then the lender sent me an agreement and asked me to send it back within 10 days, I signed and returned on the 9th day. They will file it with the court, and I have to have the reaffirmation hearing. I will try to get the agreement accepted, then I have 60 days to simply write a letter (certified mail) to the creditor cancelling the agreement if I choose to.

I bought the car in Aug 07 and have not made a payment yet, also I have called the fin company every other week to discuss it and claim that I will get it current after agreement is approved so I don't throw money away. They have reassured me they won't try to lift the stay at all, and will wait till Discharge to take if I don't get reaffirmation accepted. They say they will more than likely defer payments to make it current as of the date of the acceptance, but can't guarantee that because that would be seen as attempting to collect a debt, they can't discuss payment arangements. They did "hint" that they would rather I not be more than 90 days past due.

During this time, I have been looking at alternative vehicles, financing, etc.. and will continue to do so until the 60 day period that I can cancel the agreement is up. I was approved through LoanZone, but I didn't like the 6 references requirement and the complaints online about them contacting references to harass them even before payments are due.

As usual, more information than requested, but hopefully it helps.

wow can you say working the system .. i wish i knew this before thnx